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Saudi Arabia's Crude Oil Production Exceeds 10 Mn Barrels

The oil production facility of Saudi Aramco's Shaybah oilfield in the Empty Quarter (File Photo: Reuters)
The oil production facility of Saudi Aramco's Shaybah oilfield in the Empty Quarter (File Photo: Reuters)
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Saudi Arabia's Crude Oil Production Exceeds 10 Mn Barrels

The oil production facility of Saudi Aramco's Shaybah oilfield in the Empty Quarter (File Photo: Reuters)
The oil production facility of Saudi Aramco's Shaybah oilfield in the Empty Quarter (File Photo: Reuters)

Saudi Arabia's crude oil production increased by 110,000 barrels per day (bpd) on a monthly basis in December to 10.02 million barrels per day, according to recent data.

Crude exports slightly dropped from 6.949 million bpd in November to 6.937 million bpd, according to monthly export figures submitted by Saudi Arabia and other oil-exporting countries to the Joint Organizations Data Initiative (JODI).

JODI indicated that Saudi crude production rose last December by 1.04 million bpd.

Saudi Arabia, along with other OPEC member countries, is trying to increase production every month due to rising global demand after recovering from the COVID-19 pandemic.

JODI stated that the total Saudi oil exports, including crude and oil products, rose by 105,000 bpd on a monthly basis to 8.61 million bpd in December.

It added that exports of oil derivatives rose to a three-year high of 1.67 million bpd in December from 1.55 million bpd in November.

Domestic demand for oil products fell to 2.05 million bpd from 2.13 million bpd.

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Three Saudi-Yemeni Companies Established in Energy, Telecom to Support Yemen's Reconstruction

The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
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Three Saudi-Yemeni Companies Established in Energy, Telecom to Support Yemen's Reconstruction

The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)
The Saudi-Yemeni Business Council holds meeting in Makkah, announces strategic initiatives (Asharq Al-Awsat)

The Saudi-Yemeni Business Council, part of the Federation of Saudi Chambers, announced six initiatives to boost trade and support Yemen’s economic development at a meeting in Makkah, Saudi Arabia.
Over 300 Saudi and Yemeni investors attended, agreeing to establish three companies to help rebuild Yemen and improve its infrastructure.
The initiatives include upgrading border crossings to improve logistics and increase trade, currently valued at 6.3 billion riyals ($1.6 billion). Yemen’s exports to Saudi Arabia, worth only 655 million riyals ($174.6 million), highlight untapped potential in mining, agriculture, livestock, and fisheries.
Key recommendations to enhance trade and support Yemen’s economic recovery include setting up quarantine facilities for Yemeni livestock and agricultural products to increase exports, as well as building smart food cities near border areas to improve food security and sustainable cooperation.
The Council urged action to address banking challenges faced by traders, suggesting reforms in Yemen’s financial sector and stronger ties with Saudi banks. It also proposed creating a club for Yemeni investors in Saudi Arabia to encourage joint projects and partnerships.
Three new Saudi-Yemeni companies will be established. One will invest $100 million in solar energy to provide sustainable electricity in Yemen. Another will focus on boosting telecommunications via Starlink satellite services. The third will organize events to promote Saudi products and support Yemen’s reconstruction.
Speaking to Asharq Al-Awsat, Council President Dr. Abdullah bin Mahfouz emphasized the private sector’s critical role in stabilizing Yemen’s economy and society through investments that support development, create jobs, improve infrastructure, and promote small and medium-sized enterprises (SMEs).
He stressed the importance of empowering Yemeni entrepreneurs and securing funding for reconstruction projects, encouraging public-private partnerships to execute large-scale initiatives under the Build-Operate-Transfer (BOT) model.
The Makkah meeting ended with agreements between Saudi and Yemeni companies to develop key sectors such as energy, agriculture, and infrastructure.
Streamlined customs, improved logistics, and upgraded Yemeni ports and airports were also highlighted as priorities to facilitate trade.
Yemeni delegation leader Abdulmajid al-Saadi, praised Saudi Arabia’s new investment law, noting Yemeni investments in the Kingdom have reached 18 billion riyals ($4.8 billion), ranking third among foreign investors.