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Saudi Arabia breaks records on oil exports and output for year

Crude Oil

Saudi Arabia breaks records on oil exports and output for year

Bloomberg Published on Tue, Feb 21, 2017 / 8:31 AM GMT+8

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KUWAIT (Feb 21): Saudi Arabia boosted oil exports and production last year to the highest monthly averages on record as the global crude market endured oversupply.

Exports climbed to 7.65 million barrels a day on average last year, from 7.39 million barrels a day a year earlier, according to Joint Organisations Data Initiative monthly data compiled by Bloomberg. Production rose to 10.46 million barrels a day from 10.19 million, on average, over the same period.