Saudi crude exports hit five-month high as output falls to record low

· Oil & Gas · Saudi Arabia

Saudi Arabia's crude exports rose about 7.9% in August from July to 4.451 million barrels per day, the highest since March, while its oil production fell to a record low of 6.24 million bpd, according to JODI data reported by Reuters. Production had been 8.135 million bpd in July. The divergence points to a kingdom drawing heavily on storage and prioritizing exports while restraining output. For a market already unsettled by Middle East supply risk, the figures show Saudi Arabia is still able to keep barrels flowing to buyers even as it holds back production.

Why it matters：Saudi Arabia is the swing producer whose output and export choices set the tone for global crude balances; a record-low production month paired with rising exports signals heavy storage drawdown that could limit future flexibility.

Key points

  • Exports reached 4.451 million bpd, the highest since March
  • Production fell to 6.24 million bpd from 8.135 million bpd in July
  • Data comes from the Joint Organizations Data Initiative (JODI)

Sources (original reporting)

More stories from this day