Saudi Arabia exported 5.74 million barrels per day (bpd) of crude oil in July, down by 306,000 bpd from June, and the lowest export level since August 2023, the latest data from the Joint Organizations Data Initiative (JODI) showed on Thursday. Saudi Arabia, the world’s top crude oil exporter, typically lowers its crude oil exports in the summer as it uses more crude domestically for direct burn at power plants. Electricity demand in the desert in the summer months is soaring amid scorching temperatures. Saudi Arabia saw its direct…
