Saudi Runs Hit Record, Cut Into Exports (Jodi April Data, ‘000 B/D)

There has been speculation among analysts about how Saudi Arabia’s recent crude production surge – in the wake of a game-changing Saudi-led Opec decision to let fundamentals balance the market – would play out against the kingdom’s recently expanded refining capacity.

The latest Jodi data provides some answers – crude production has gone still higher, and products data contains numerous...