*Saudi Arabia’s oil burn averaged 731,000 b/d in January, the latest Jodi figures show. Ordinarily, this would set the kingdom up for another year of success in reducing oil burn, but the Middle East conflict could derail this.
*January’s oil burn figure was down nearly 5% year-on-year, following the start up of the Jafurah Basin unconventional gas project in December (MEES, 27 February). Non-associated gas developments such as Jafurah are more important than ever now, as Aramco has had to cut crude oil production due to the closure of the Strait of Hormuz. This will reduce associated gas output (MEES, 6 March). (CONTINUED - 188 WORDS)
