Saudi Arabia’s crude oil exports in December 2022 rose by 157,000 barrels per day (kb/d) to 7.44 million barrels per day (mb/d). The kingdom’s production, however, fell by 33,000 to 10.44 million bpd, the International Energy Forum (IEF) said on Monday, citing data from the Joint Organizations Data Initiative (JODI).

Global crude production declined by 274 kb/d in December to a five-month low, led by losses in the US and UK, the data showed.

Meanwhile, global oil demand climbed in December by 1.3 mb/d to a new record high, the data showed. Demand growth was driven primarily by gains in Japan, Indonesia, and Korea.
Source: Reuters (Writing by Brinda Darasha; editing by Daniel Luiz)