Text size:

  • Small
  • Normal
  • Large

Iraq, Saudi cut December oil exports while Venezuela boosts shipments

Iraq and Saudi Arabia cut crude oil exports in December for a second month, while Venezuela boosted shipments to their highest in more than four years.

Iraq and Saudi Arabia cut crude oil exports in December for a second month, while fellow Opec member Venezuela boosted shipments to their highest in more than four years, according to the Joint Organisations Data Initiative.

Iraq, the biggest producer in the Opec after Saudi Arabia, curtailed exports by 10 per cent to 2.35 million barrels per day, data posted on the initiative's website showed. The Saudi kingdom shipped 7.06 million bpd in the month, down 1.3 per cent from November, according to the data.

Venezuela increased crude shipments in December by 19 per cent to 1.97 million bpd, the most since July 2008, when it exported 2.24 million, the initiative known as Jodi said, citing statistics that member governments submitted to the 12-nation group. Opec supplies about 40 per cent of the world's oil.

Nigeria boosted shipments by 14 per cent during the month to 2.29 million bpd, and Angola raised exports by 5.6 per cent to 1.7 million bpd. Kuwait's exports in December were little changed at 2.06 million bpd, JODI data showed. Algeria's shipments slipped 5.5 per cent to 685,000 bpd, according to the initiative.

Jodi had no monthly data for Iran, Libya and the United Arab Emirates. Jodi, supervised by the Riyadh-based International Energy Forum, uses statistics supplied by national governments to compile data on imports, exports and output for oil-producing and consuming nations. The data include crude oil and condensates and exclude natural gas liquids.


* Reuters

Back to the top

More articles

Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Above, the private pool of Ocean Heights' five-bedroom penthouse flat. Courtesy Christie’s International Real Estate

In pictures: Penthouse flat is height of Dubai luxury living

A five-bedroom penthouse in Ocean Heights in Dubai Marina is on sale for Dh25 million and comes with a private pool and an unparalleled view of Dubai.

 The cooling towers of the Temelin nuclear power plant near the Tyn nad Vltavou in Czech Republic. The country wants to continue expanding nuclear energy capacity despite cancelling a tender to build two new units. David W Cerny / Reuters

In pictures: Best business images for the week to April 17, 2014

Here are some of the best business images for the week to April 17, 2014.

 Three generations of the Hakimi family tend to their stall Crawford Market in Mumbai. Subhash Sharma for The National

In pictures: Shopper’s delight at Crawford Market in Mumbai

Crawford Market is an old British-style covered market dealing in just about every kind of fresh food and domestic animal imaginable. Later on renamed Mahatma Jotirao Phule, the market remains popular among locals and visitors by its old name, taken from Arthur Crawford who was the first municipal commissioner of the city.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.


To add your event to The National listings, click here

Get the most from The National