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FINANCIAL NEWS
Saudi oil exports post 7.8 percent increase in January
19 Mar 2015
(MENAFN) Saudi Arabia’s oil exports increased 7.8 percent in January hitting their peak in 11 months, according to the Joint Organizations Data Initiative (JODI), Saudi Gazette reported.
The world’s biggest oil exporter shipped 7.47 million barrels a day in January against 6.93 million in December, according to the data issued on the initiative’s website.
The Kingdom produced 9.68 million barrels a day of crude in January, marking a 0.5 percent or 50,000 barrels a day, from the previous month, according to JODI.
The results recorded in January are in part due to reduced amount of crude the country burned as fuel in power plants to 276,000 barrels a day from 386,000 in December.
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