After being derailed by the outbreak of the regional conflict on 28 February, Saudi Arabia’s strategy to displace liquid fuels from its power sector is back on track. The latest Jodi data show that implied oil burn (crude and fuel oil) fell to 1.127mn b/d in August, the lowest figure for the month since 2018.
Saudi oil burn has now been below 2025 levels for three consecutive months after having surged to seasonal records in April and May (see chart 1). Remarkably, given the scale of the April and May burn figures and continued disruption to its energy sector, the year-to-date average of 1.05mn b/d is only slightly above the 1.02mn b/d for the same period last year (see chart 2). (CONTINUED - 947 WORDS)
