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Trade Trends News
2025-07-22
Data released on Monday by the Joint Organizations Data Initiative (JODI) showed that Saudi Arabia's crude oil exports in May rose to their highest level in three months, highlighting the kingdom's increasing role in global energy supply.
As the world's largest oil exporter, Saudi Arabia increased its crude oil exports from 6.166 million barrels per day (bpd) in April to 6.191 million bpd in May, reaching the highest export level since February 2024.
Saudi Arabia's total crude oil production in May reached 9.184 million bpd, up from 9.005 million bpd in April. The increase in output directly contributed to the rise in crude oil exports, reinforcing the country's strategic export capacity.
According to the data, Saudi refineries processed 2.721 million bpd of crude oil in May, slightly higher than April's 2.704 million bpd. Meanwhile, direct crude oil burn rose by 112,000 bpd to 489,000 bpd — a sign of increased domestic demand alongside rising crude oil exports.
Saudi Arabia and other OPEC members submit monthly export data to JODI, which then publishes the figures on its official website. These statistics are crucial for analysts monitoring global crude oil exports and production trends.
OPEC and its allies, including Russia (collectively known as OPEC), agreed earlier this month to increase production by 548,000 bpd in August. The decision is expected to accelerate the pace of crude oil exports, especially from key producers like Saudi Arabia. This move comes after oil prices initially surged following U.S. and Israeli strikes on Iran, then later stabilized.
According to sources familiar with the matter, OPEC is likely to approve a further output hike in September at its August 3 meeting, potentially leading to additional growth in crude oil exports.
Beginning in April, OPEC gradually reversed a prior production cut of 2.17 million bpd, increasing output by 138,000 bpd. Despite downward pressure on prices, OPEC continued to ramp up production in May, June, and July, contributing to the rising volume of crude oil exports.
Saudi Arabia's Ministry of Energy confirmed full compliance with its voluntary OPEC output targets. The ministry also noted that crude oil supply to the market in June was 9.352 million bpd, in alignment with agreed production quotas — a figure that supports sustained levels of crude oil exports going forward.
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