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In August, Saudi Arabia’s crude oil exports reached their highest level in half a year, as reported by the Joint Organizations Data Initiative (JODI) on Wednesday.
The volume of crude exported rose to 6.407 million barrels per day (bpd), up from 5.994 million bpd in July, representing the peak level since February 2025.
The country, which is the largest oil exporter globally, increased its crude production to 9.722 million bpd in August, rising from July’s figure of 9.201 million bpd.
However, the crude throughput at refineries in Saudi Arabia fell to 2.902 million bpd in August, down 2.6 percent from July’s 2.978 million bpd. Additionally, the direct burning of crude slightly decreased by 1,000 bpd to reach 607,000 bpd.
Additional insights on fluctuating Middle East oil prices can be found here.
According to UBS analyst Giovanni Staunovo, “They have relaxed production cuts, leading to higher output and greater oil availability; however, the sustained high official selling prices have kept demand somewhat limited.” He also noted, “For September, we should anticipate a further increase as temperatures in the Middle East begin to cool, allowing more crude to be available for export.”
Saudi Arabia, along with other OPEC members, submits its monthly export data to JODI, which subsequently publishes the findings.
Earlier in October, OPEC+ announced a plan to increase oil output targets by 137,000 bpd starting in November, retaining the same gradual increase as in October due to concerns of a possible supply surplus.
The OPEC+ coalition, which includes Russia and other smaller producers, has raised its oil production targets by more than 2.7 million bpd this year, equating to nearly 2.5 percent of global demand.
The International Energy Agency (IEA) warned earlier this month that the global oil market might face a surplus of up to 4 million bpd next year, as both OPEC+ and competing producers ramp up production despite weak demand.
Conversely, it is anticipated that Saudi crude exports to China will decrease in November to approximately 40 million barrels, as Chinese refiners are expected to turn to more affordable spot supplies from other Middle Eastern producers, according to sources familiar with the situation.