RIYADH: Saudi Arabia boosted crude exports in October to the highest level in four months, as the world’s biggest oil exporter added barrels to a worldwide supply glut that has contributed to a slump in prices.
Saudi shipments rose to 7.364 million barrels a day in the month from 7.111 million in September, according to the latest figures from the Joint Organisations Data Initiative (JODI). The monthly exports were the most since June and 7 percent higher than in October last year, the data released yesterday showed.
JODI is an industry group supervised by the Riyadh-based International Energy Forum.
Saudi Arabia produced 10.28 million barrels a day in October, up from 10.23 million in September, the JODI figures showed.
Saudi Arabia led OPEC to decide on Dec. 4 to abandon the group’s limits on output amid efforts to squeeze higher-cost producers such as Russia and US shale drillers out of the market.
Saudi Arabia pumped 10.33 million barrels a day in last month, exceeding 10 million barrels in daily output for the ninth consecutive month, according to data compiled by Bloomberg.
