Saudi Refining Ramp-Up Continues – Data Analysis

> Saudi Arabia’s September refinery output of 2.22mn b/d was the second highest on record (after December 2013). Diesel output hit a record 795,000 b/d as the new 400,000 b/d Satorp refinery neared full capacity. The last four months are the four highest on record: Q3 average diesel output was up 180,000 b/d on a year earlier.

> Demand has also risen strongly. September gasoline demand of 558,000 b/d was just down on June’s all-time high.

> Products exports fell from August’s record 1.02mn b/d but remain up 200,000 b/d on a year earlier. But crude exports are down by 1.12mn b/d year-on-year. Overall net oil exports, at 6.95mn b/d, fell below 7mn b/d for the first time since early 2011.


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE