Saudi Oil Output Falls to 19-Month Low as Exports Decline
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Saudi Arabia’s crude oil output fell in December to a 19-month low as shipments from OPEC's biggest producer dropped for a third month and domestic consumption decreased, the Joint Organisations Data Initiative said.
The kingdom exported 7.06 million barrels of crude a day in December, the least since September 2011, JODI reported, citing statistics the government submitted to the Organization of Petroleum Exporting Countries. Exports were 1.3 percent lower than the previous month. Production dropped 4.8 percent in the month to 9.03 million barrels a day.