*Talal Al-Sayah from Riyadh
Saudi exports of crude oil amounted to about 2.452 billion barrels since the beginning of 2018 to the end of November, compared to 2.325 billion barrels during the same period of 2017, registering a growth of 5.5 per cent, equivalent to 127.27 million barrels.
According to the monitoring of economic reports unit in the newspaper "AlEqtisadiah" that is based on the data of the Joint Organizations Data Initiative "Jodi" and the Organization of the Petroleum Exporting Countries (OPEC), the average Saudi exports during November were at the highest level in nearly 24 months, specifically since November 2016.
The average exports for the month of November 2018 were about 8.235 million barrels per day, while in November 2016, the average reached 8.258 million barrels per day.
The average of crude oil exports during the month of November by about 17.4 per cent, equivalent to 1.219 million barrels per day, compared with the average exports in November 2017, of 7.016 million barrels per day.
The quantity exported during the month of November 2018 were amounted to about 247.05 million barrels, compared to 210.48 million barrels during the same month last year 2017, with a growth rate of 17.4%, equivalent to about 36.57 million barrels.
Saudi Arabia's daily production reached 10.288 million barrels per day in November, compared to 10.489 million barrels per day during the previous month, and compared to 9.89 million barrels per day during the month of November 2017.
It is noteworthy that in early December, OPEC and its allies, including major oil producers in the world "Russia," agreed on the production reduction plan, which began in work this month.
The plan, which includes a cut in production by 1.2 million barrels per day, is a response to the sharp decline in global oil prices by about 30 per cent since last October.
In January 2018, Saudi Arabia exported 222.27 million barrels, down 7 per cent from the same period in 2017.
In February 2018, the Kingdom exported 203.03 million barrels, up 4.2 percent, compared to the same period of 2017.
In March 2018, Saudi Arabia exported 220.78 million barrels per day, with a decline of 1.5 per cent, compared to the same month of 2017.
Thus, Saudi Arabia's total exports during the first quarter of 2018 reached 646.08 million barrels, compared to 658.09 million barrels in the same period of 2017.
In April 2018, Saudi Arabia exported 219.36 million barrels, with an increase of 4.4 percent over the same period of 2017.
In May, Saudi Arabia exported 216.50 million barrels, up 0.9 percent, compared with the same period of 2017.
In June 2018, Saudi Arabia exported about 217.32 million barrels, up 5.2 per cent, compared to the same month of 2017.
In July 2018, Saudi Arabia exported 220.66 million barrels, up 6.3 per cent, compared to the same month of 2017.
In August 2018, the Kingdom exported about 223.63 million barrels, up 7.5 per cent, compared to the same period of 2017.
In September 2018, Saudi Arabia exported 222.99 million barrels, up 13.5 percent, compared to the same month of 2017.
In October, the Kingdom exported about 238.73 million barrels, up 12 percent, compared with the period from 2017.
In November 2018, Saudi Arabia exported about 247.05 million barrels, with an increase of 17.4 per cent, compared to the same period of 2017.
* Economic Reports Unit
