Saudi Arabia's oil exports in January to the highest level in 11 months

Saudi Arabia's oil exports in January to the highest level in 11 months

You will be in demand for oil in 2015 for the best of 2014? As well as apparently the first months of this year Saudi Arabia's crude oil exports level rose to its highest level in 11 months, according to the latest official statistics.

And managed the Kingdom of export 7.47 million barrels per day of oil in January (January), an increase of 7.8 per cent from the level in the last month of 2014, as official data sent by Saudi Arabia to the Organization of Petroleum Exporting Countries showed (OPEC) was published yesterday.

The demand for oil in general, and the demand for Saudi oil in particular, in the last year, below expectations dramatically. This is reflected in the Kingdom's exports during 2014, which remained below the level of 7 million barrels during the seven months rose above it in only 5 months, according to data showed seen by «Middle East».

In a related event, announced the Energy Information Administration of the US Department of Energy yesterday in announcing weekly, that the United States imported more than a million barrels of Saudi oil in the past week, did US imports weekly from Saudi Oil rises more than one million barrels since the week ending 16 last January. This is a sign on the other to improve the demand for Saudi oil this year.

After a period of sluggish demand, officials in «OPEC» In Saudi Arabia, returned to the optimism about demand growth again this year. In the fourth of March (March) the current Saudi Arabian Oil Minister Ali al-Naimi said in a speech in the German capital Berlin, the demand began to improve gradually this year with signs of improvement in the global economy.

«OPEC» expects oil demand this year is improving and growing at about 1.17 million barrels per day compared to last year in light of expected growth in the global economy by about 3.4 per cent compared to 3.3 per cent in 2014. The organization said in its monthly report on Monday that «most of the increase in demand growth this year will come from China and Saudi Arabia. »

The Secretary-General's «OPEC» Libyan Abdalla Salem El-Badri said in Manama this month that oil prices fell with the imbalance of supply and demand in the past few months due to the large growth in production from outside the «OPEC» at a time when demand significantly did not sleep on oil. In last year demand growth was less than expected and arrived less than a million barrels a day, as Badri said.

Thanks to the low oil burning power plants in addition to the decline in refinery production is consumed, the Kingdom managed in January to increase exports without having to raise production much as it raised production during the same month by 0.5 per cent to 9.68 million barrels a day from 9.63 million barrels in December (December), as statistics showed yesterday.

Fell burning oil level in order to produce electricity in the Kingdom stations during the month of January is very large, reaching its lowest level during the past four years. In January has been burning 276 thousand barrels per day of crude oil by the various power plants in the UK, the lowest monthly rate has been registered since March 2011. Even on a monthly basis, what was burned last January far less than was burned in December when consumed power plants, 386 thousand barrels per day of crude oil.

It is not clear the reason behind such a large drop in the burning of oil, but usually low oil burning in line with the increase in production of natural gas, which is used to produce electricity in half of the kingdom stations in oil shares and heavy fuel oil and diesel, the remaining half.

The data indicated that refineries consumed 2.104 million barrels per day in January, down slightly from 2.217 million barrels per day in December. The data showed that exports of petroleum products fell to 798 thousand barrels per day in January from a record high level of 1.05 million registered in December.

And on oil exports from «OPEC» states level statistics yesterday showed that Iraq's exports fell sharply in January stood at 14 per cent to 2.54 million barrels per day in Iranian oil exports, close to the level of last month remained at 1.33 million barrels per day.