Saudi Arabia's May Crude Oil Exports Plunge to Record Low, JODI Data Shows

Saudi Arabia's crude oil exports fell to a record low in May, declining for the third consecutive month amid regional transport disruptions. Shipments from the world's largest oil exporter dropped to 3.434 million barrels per day (bpd), according to data released Tuesday by the Joint Organizations Data Initiative (JODI).

Details of the Decline

The May export figure represents a significant drop from the 3.986 million bpd recorded in April. According to JODI, whose official data for the kingdom dates back to 2002, this is the lowest level on record. The decline in shipments was attributed in the report to disruptions affecting transport across the Gulf region linked to the U.S.-Iran conflict.

This sustained drop in exports from a key global supplier is a critical development for energy markets, potentially tightening supply if the trend continues. Investors and commodity traders closely monitor these figures as an indicator of global oil flows and geopolitical risk.

Production and Domestic Consumption Rise

In contrast to the fall in exports, Saudi Arabia's crude oil production increased in May. The kingdom's output rose to 6.560 million bpd, recovering from a record low of 6.316 million bpd in April. This suggests that while international shipments were curtailed, production capacity was ramped up.

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A significant portion of this increased output appears to have been directed toward domestic needs. The JODI data showed:

• Refinery crude throughput increased by 175,000 bpd to 2.386 million bpd.
• Direct crude burning, often used for power generation during warmer months, rose by 107,000 bpd to 647,000 bpd.

Data Context

The monthly figures are submitted by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) directly to JODI. This makes the data an authoritative, though slightly lagging, indicator of the production and export policies of major oil-producing nations.