Saudi oil production to decline in next few months: Jadwa

02/04/2019 Argaam

 

Saudi Arabia’s oil production and exports are expected to trend further downwards in the next couple of months, Jadwa Investment noted in its latest monthly report.

 

Saudi crude oil production continued to decline month-on-month in February, down 1 percent to 10.13 million barrels per day (mbd), the report said, adding that latest available data for January showed oil exports were also down a sizable 6 percent month-on-month (MoM), to 7.2 mbd.

 

Jadwa said Brent crude oil prices were up 3 percent MoM in March as latest data from OPEC showed continued compliance to agreed output levels.

 

“That said, concerns over global economic growth have put the spotlight back on global oil demand, with downward revisions in oil demand growth recently,” it added.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read