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FINANCIAL NEWS
Saudi exports 1.89b barrels of oil at SR279bn
31 Aug 2016
(MENAFN) Saudi Arabia exported almost 1.89bn barrels of crude oil in the Jan-August period of this year with an amount of SR279bn, a fall of 27 percent.
Moreover, local consumption amid the same period was predicted to hit 642mn barrels, or 25 percent of the whole output.
Accordingly, oil prices fluctuated between USD40 and USD43 per barrel at the beginning of August, while Brent and West Texas oil prices reached USD42.47.
On the other hand, oil prices sharply increased in the kingdom, on the possible freeze of oil production by the OPEC officials.
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