Reuters reports latest crude exports and inventory data from Saudi Arabia, showing that both crude output and exports fell in August.
Saudi direct crude burn in Aug rose 42K bpd to 739K bpd
Crude stocks down 0.453M bbls to 281.01 mln barrels in Aug
Saudi crude output down by 0.043m bpd mom to 10.630m bpd in Aug
Domestic refinery crude throughput down 0.011m bpd to 2.6m bpd
Saudi crude exports fell by 0.317m bpd mom to 7.305m bpd in Aug
In a separate news piece, Saudi’s state owned company, Aramco is said to boost crude supplies to China in September.
Meanwhile, both crude benchmarks trade with size-able gains amid reports of falling exports from Iran as well as from Saudi.