Saudi crude oil exports in March see biggest monthly decline in a year

Saudi Arabia’s crude oil exports fell by 72,000 barrels per day (bpd), or 1 percent month-on-month in March, data from the Joint Organisations Data Initiative, also known as JODI, reveal. 

Exports decreased to 7.235 million bpd from 7.307 million bpd in February. The decline is the biggest since March 2021 when exports fell 3.5 percent.

The volume of crude oil output has continued to grow for the eleventh month in a row. 

The output grew by 75,000 bpd in March to 10.300 million bpd. Production rose by 0.7 percent from 10.225 million bpd in February.