In October 2021, Saudi Arabia increased oil production by 1.2% and exports by 4.9% compared to the previous month, according to data on the Joint Organization Data Initiative (JODI) website.
Exports reached 6.833 million bpd, up from 6.516 million bpd in September. At the same time, it was 10.9% higher than in October last year. Oil production in Saudi Arabia in October was 9.780 million bpd against 9.662 million bpd in September, according to JODI data. In annual terms, the indicator rose by 9%.
Iraq in October reduced oil exports by 0.7% versus the previous month – to 3.528 million bpd. Production decreased by 0.6% to 4.07 million barrels per day.
Meanwhile, compared to October 2020, the first indicator increased by 7.2%, and the second – by 5.9%. At the same time, oil production in Venezuela, notes Interfax, increased to 756 thousand bpd against 650 thousand bpd in August.
According to preliminary estimates of JODI, the US increased oil production in October by 5.4% – to 11.387 million barrels per day, compared to 10.809 million barrels per day a month earlier. At the same time, the indicator increased by 9.4% over the year.
According to the organization’s calculations, exports of American oil amounted to 2.844 million bpd against 2.667 million bpd in the previous month (an increase of 6.6%) and 2.912 million bpd in the same month of last year (a decrease of 2, 3%). A year earlier, the figure was 473 thousand bpd.
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