Arab News
Arab news, Thu, May 22, 2025 | Dhu al-Qadah 24, 1446
Saudi crude output hits 8.96m bpd in March: JODI data
Saudi Arabia:
Saudi Arabia’s crude oil production rose to
8.96 million barrels per day in March, reflecting a 0.11 percent monthly
increase, according to the latest Joint Organizations Data Initiative data.
According to the database, crude exports fell by
12.11 percent month on month to 5.75 million bpd.
Refinery crude exports rose 10.3 percent during
this period to 1.55 million bpd. The uptick was driven primarily by diesel
shipments, which jumped 20.66 percent from the previous month to 806,000 bpd.
It also accounted for the largest share of refined
product exports in March at 52 percent, followed by motor and aviation gasoline
at 17 percent, and fuel oil at 12 percent.
Total refinery output reached 2.94 million bpd in
March, a 12.32 percent monthly increase, with diesel comprising 42 percent of
refined products, motor and aviation gasoline 24 percent, and fuel oil 15
percent.
Domestic demand for refined petroleum products
increased by 223,000 bpd in March compared to the previous month, reaching 2.22
million bpd.
On an annual basis, demand rose by 5.07 percent,
equivalent to 107,000 bpd.
The Kingdom’s slight increase in crude production
across the month came amid a broader strategic pivot within OPEC+, which has
agreed to significantly boost oil output starting in June. The alliance
announced an additional 411,000 bpd increase for June, following a similar
adjustment made for May.
This marks a continuation of the group’s recent
efforts to accelerate the return of previously curtailed supply to the global
market. The upcoming increase is expected to add further downward pressure on
prices, which have already been trending lower due to ample inventories, modest
international demand growth, and increasing non-OPEC output.
Direct crude usage
Saudi Arabia’s direct crude oil burn rose to
383,000 bpd in March, reflecting a 35.3 percent increase from the previous
month.
Direct crude burn refers to the use of unrefined
crude oil for electricity generation, rather than for export or refining.
The increase came amid the seasonal ramp-up in
cooling needs as temperatures begin to rise heading into the warmer months.
Although the Kingdom has made substantial progress
in expanding its natural gas infrastructure to reduce reliance on direct crude
burn, fluctuations still occur, particularly in transitional months like March,
when energy demand begins to shift but supply systems have not fully ramped up.