Saudi Arabia’s crude oil exports in March were the highest in almost a decade, Reuters has reported.
According to data supplied by Riyadh to the Joint Organisations Data Initiative (JODI) Saudi Arabia’s exports in March totalled 7.898mn barrels per day (bpd), up from 7.350mn bpd in February and 7.474mn bpd in January.
The figure was the highest since November 2005, when shipments from the Kingdom topped 7.962mn bpd, according to JODI, an international body set up to promote transparency in oil markets.
The Saudi oil minister Ali al-Naimi said in March said that at the time production levels stood at 10.3mn bpd and said the figure could go up as global demand for crude improves.
Saudi Arabia posted a record high production in April, when it pumped 10.308mn bpd, surpassing its peak of 10.2mn bpd in August 2013, Reuters reported last week.
Speaking at the South Korean capital Seoul, the Saudi oil minister said that China will remain the Kingdom’s biggest market despite previous indications of slackened demand.
“We have seen no change in oil demand. We are still supplying the same volume as we have been supplying for some time,” he said.
“I believe demand over time will continue to grow. We are very positive in that sense. There is absolutely no concern from our side. We haven’t seen any change since the prices changed,” he said, adding that Saudi Arabia’s supply to China topped 1mn bpd.
