Saudi Refined Oil Exports Surge 16% in August: Report

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In August, Saudi Arabia exported more refined oil products compared to July. The data from the Joint Organizations Data Initiative showed a 16 percent increase. The total volume of exported refined oil products was 1.3 million barrels per day, up from 1.1 million bpd in July.

Diesel exports experienced a significant growth of 45 percent, reaching 587,000 bpd, the highest monthly increase in three years. However, fuel oil exports decreased by 15 percent (24,000 bpd), and motor and aviation oil fell by 7 percent (20,000 bpd) during the same period.

According to the JODI database, diesel made up 44 percent of total refinery oil exports, motor and aviation oil constituted 21 percent, and fuel oil accounted for 11 percent. In August, 55 percent of the refinery output was shipped, compared to 44 percent in July. Specifically, 50 percent of diesel produced in August was exported, up from 39 percent in July. The Kingdom also exported 31 percent of the fuel oil produced, down from 39 percent in the previous month. For motor and aviation gasoline, 40 percent of its output was exported in August, a decrease from 45 percent in the prior month.

Despite the increase in exports, Saudi Arabia’s overall refined oil product output declined by 1.5 percent in August compared to July, totaling 2.5 million bpd. Diesel, which contributes 46 percent to the refined output, rose by 13 percent in August, reaching 1.2 million bpd, the highest level since last April. Fuel oil, accounting for 18 percent of refinery output, increased by 7.26 percent during the same period. Motor and aviation gasoline, representing 27 percent of the output, saw a 4 percent increase in August.

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