KHOBAR, Saudi Arabia Oct 18 Saudi Arabia's
crude oil exports in August fell to 7.305 million barrels per
day from 7.622 million bpd in July as the world's largest oil
exporter pumped less, the kingdom has told an influential data
Monthly export figures are provided by Riyadh and other
members of the Organization of the Petroleum Exporting Countries
(OPEC) to the Joint Organizations Data Initiative (JODI), which
published them on its website on Tuesday.
After the kingdom pumped a record high 10.673 million bpd in
July due to summer demand and requests from customers, its
August output dropped to 10.630 million bpd.
Crude oil used to generate power rose 42,000 barrels per day
in August to 739,000 barrels per day.
Saudi Arabia's oil inventories peaked last October at a
record high 329.430 million barrels but have declined to meet
domestic demand without affecting exports.
Its domestic crude inventories totalled 281.01 million
barrels, down from 281.463 million barrels in July, data
provided by JODI showed.
Domestic refineries processed 2.600 million bpd of crude in
August, down from 2.611 million in July. Exports of refined oil
products in August inched higher to 1.370 million bpd from 1.367
million bpd in July.
State oil firm Saudi Aramco has stakes in more than 5
million bpd of refining capacity at home and abroad, placing it
among the global leaders in making oil products.
OPEC on Sept. 28 agreed to reduce output to a range of 32.50
million barrels per day to 33.0 million bpd, its first output
cut since the 2008 financial crisis.
(Reporting by Reem Shamseddine, editing by William Hardy)