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Saudi Arabia’s oil exports climb

Country shows no sign of slowing down production despite plunging oil prices

Saudi Arabia’s crude oil production climbed 253,000 bpd in October according official to data, showing that the world’s biggest oil producer sent 7.364 million bpd in October compared with September.

The country showed no sign that it is making any effort to slow down its production despite the plunging oil prices, as it maintained the high level of production and pumped 10.276 million bpd in October, up slightly from September’s level of 10.226m bpd.

Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) provide monthly figures to the Joint Organizations Data Initiative (JODI), reports Jordan-based Assawsana.

The data showed that in October, domestic refineries processed 2.028m barrels of crude per day, compared with 2.501m barrels per day in September. And refined products exports fell to 1.093m bpd from 1.19m bpd in September.

The consumption of crude oil used to generate electricity declined to 667,000 bpd in October due to the extremely hot summer months.