HIGH DEMAND: Saudi oil exports have improved with the increased demand by
Saudi Arabia's oil exports reached 1.17 billion barrels in the first five months of this year 2014, with proceeds amounting to SR472.8 billion, local media said quoting an expert.
On the other hand, domestic consumption during the five-month period stood at nearly 317 million barrels, or 21 percent of the total output of the same period,
The figures come on the back of an announcement made by Minister of Petroleum and Mineral Resources
He stated that the Kingdom's current oil production stands at 9.6 million barrels per day (mbpd) and is prepared to increase production capacity to 12.5 million bpd.
Jumaa said Saudi oil exports have improved with the increased demand by
Last May, the
It is to be recalled that Saudi oil exports hit 715.72 million barrels in the first quarter of the year with proceeds amounting to SR288.91 billion.
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