*Saudi Arabia burned a record 1.481mn b/d of oil (crude and fuel oil) in June this year, surpassing a record that had stood since August 2019. The record came amid soaring electricity demand which more than offset increased gas availability (MEES, 26 August).
*June’s record may have already been surpassed given the seasonality of electricity demand, which typically peaks in July or August. If this year’s oil burn does peak in June, it will be the first time since 2015 in which this has been the case. (CONTINUED - 217 WORDS)