Saudi Arabia's crude oil exports in March fell to 7.235 MMbpd, said Hydrocarbonprocessing.
Crude oil exports in March fell about 1% from about 7.307 MMbpd reported for February. Meanwhile, the world's largest oil exporter's March crude production rose to its highest level in about two years at 10.300 million bpd from 10.225 MMbpd in the previous month.
Saudi Arabia is on track to lift oil production capacity by more than 1 million bpd to over 13 MMbpd by the end of 2026 or start of 2027, the energy minister said on Monday. Saudi Arabia's domestic crude refinery throughput rose 0.267 MMbpd to 2.773 MMbpd in March while direct crude burn rose 44,000 bpd to 335,000 bpd.
The country posted a budget surplus of USD15.33 B in the first three months of 2022, the finance ministry said, bolstered by a 58% jump in oil revenue as prices surged. Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries to the Joint Organizations Data Initiative, which published them on its website.
As per MRC, Ukraine has signed contracts to import 300,000 tons of diesel and 120,000 tons of petrol to cover consumption in May as Russia targets Ukrainian fuel infrastructure. Russia has destroyed 27 fuel depots and the Kremenchuk oil refinery in central Ukraine since it launched its Feb. 24 invasion, the government official said at a government meeting.
We remind, Russian fuel oil arrivals in the UAE oil hub of Fujairah are set to jump sharply to about 2.5 MM barrels this month, data shows, in a sign that flows of Russian oil and refined products are shifting away from Europe.
mrchub.com