Oil production in Saudi Arabia increased by 13% in July

Oil production in Saudi Arabia increased by 13% in July

Oil production in Saudi Arabia increased by 13% in July

In July, Saudi Arabia's oil exports rose 15% to 5.734 million barrels per day (bpd), up from 4.98 million bpd in May, according to data from the Joint Organization Data Initiative (JODI) website. The decrease compared to July 2019 was 16.7%.

Oil production by Saudi Arabia in the month before last rose by 13% – to 8.479 million bpd from 7.484 million bpd in June. In annual terms, the indicator fell by 11.5%.

Iraq in July reduced oil exports by 0.8% versus the previous month and by 20.2% over the year – to 3.194 million bpd. Production in the country practically did not change over the month and fell by 20% over the year, amounting to 3.697 million b / d.

Oil production in Venezuela dropped to 392 thousand b / d against 393 thousand b / d in June. A year earlier, the figure was 906 thousand b / d.

According to preliminary estimates of the JODI, the United States increased oil production in July by 5.7% – to 11.035 million bpd compared to 10.436 million bpd a month earlier. At the same time, the figure decreased by 6.6% over the year.

Exports of American oil, according to the organization's calculations, in July amounted to 2.867 million bpd against 2.753 million bpd a month earlier and 2.694 million bpd in the same month of 2019.

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