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FINANCIAL NEWS
Saudi crude consumption grows to 763,250bpd in summer
20 Nov 2012
(MENAFN) Saudi government data showed that between early June through September, the Kingdom burned an average of 763,250 barrels per day (bpd) of crude, up from 701,250 bpd in 2011’s same period, reported Arabian Business.
The figure is also bigger than the 747,750 bpd of crude burned in 2010.
The country planned to use more gas to generate electricity, mainly during summer, as demand for power rises, in order to lessen reliance on crude, which could be exported.
Between June-September, the country’s crude output averaged 9.845 million bpd, an increase of 192,500 bpd from 2011’s same period.
It is worth noting that Saudi Arabia burned nearly USD800 million worth of crude this summer, as the average price of the barrel is USD105.
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