Key insights
- Saudi Arabia's crude oil exports rose to 7.276 million bpd in February, up from 6.993 million bpd in January. This increase in supply could exert downward pressure on oil prices, potentially leading to lower inflation expectations and a slight negative impact on energy sector equities in the US.
Investing.com -- Saudi Arabia’s crude oil exports increased to 7.276 million barrels per day in February, up from 6.993 million barrels per day in January, according to official data released on Tuesday.
The monthly export figures were provided by Riyadh to the Joint Organizations Data Initiative (JODI), which published the data on its website.
JODI collects and publishes oil data from members of the Organization of the Petroleum Exporting Countries (OPEC) and other countries.
The February figures represent an increase of 283,000 barrels per day compared to the previous month.
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