Saudi crude oil exports and production went up in October to reach their highest levels since April 2020, data released by Jodi revealed.

Saudi crude oil exports grew by 317,000 barrels per day to hit 6.83 million bpd.

This corresponded to a monthly 5 percent increase from 6.52 million bpd in September.

In annual terms, outgoing oil shipments were up by 10.9 percent.

Similarly, crude oil production increased to 9.78 million bpd in October, slightly up from September’s 9.66 million bpd. This was accompanied by a 9 percent yearly growth.

The direct use of crude oil, which measures oil usage for generating electricity, fell sharply by 40 percent to 0.328 million bpd in October.

Moreover, Saudi Arabia’s crude stock experienced a slight uptick to 136.8 million barrels in October, up from 136.5 million bpd in the previous month.