Oil and gas companies in Saudi Arabia increased production by 1% in June compared to the previous month and exports by 2.1%, the Joint Organization Data Initiative (JODI) website showed.

Export deliveries were 7.196 million barrels per day (bpd) compared to 7.050 million bpd in May. At the same time, it was 20.6% higher than in June 2021.

Saudi Arabia’s oil production the month before last was 10.646 million b/d versus 10.538 million b/d in May, JODI data showed. On an annualized basis, the figure jumped 19.3%. This will affect not only the price of oil in Saudi Arabia, but also the situation on the world market. 

Iraq increased its oil exports by 1.4% MoM in June to 3.768 mln bpd. Production increased by 1% to 4.515 mln bpd. Meanwhile, compared to June last year, the former figure soared by 13.5% and the latter by 16.9%.

Venezuelan oil production dipped to 727,000 bpd from 735,000 bpd in May. A year earlier it was 633,000 bpd. At the same time, foreign supplies in June amounted to 399 kbpd against 271 kbpd the previous month. Venezuela resumed fuel exports in early 2022 after a long break.

According to JODI’s preliminary estimates, U.S. oil production rose 3.8% to 12.040 million bpd in June from 11.595 million bpd a month earlier. At the same time, the figure for the year increased by 6% (from 11.356 mln bpd).

U.S. oil exports were 3.250 million bpd in the month before last, compared to 3.442 million bpd in May (down 5.6%) and 3.488 million bpd in June 2021 (down 6.8%), according to the organization.

Earlier we reported that Ukraine exported more than 1.2 million tons of agricultural products.