Saudi Arabia’s crude oil exports surged to 7.276 million barrels per day (bpd) in February, up from 6.993 million bpd in January, while production hit its highest level since October 2022, according to the latest data from the Joint Organizations Data Initiative (JODI) released on Tuesday.
Record Production Levels
Saudi Arabia’s February production reached 10.882 million bpd, a significant increase from 10.100 million bpd in January, as reported by JODI. The data transparency initiative, coordinated by global energy organizations including OPEC and the IEA, compiles monthly export figures from Riyadh and other OPEC members.
The ongoing Iran war has triggered supply shocks, pushing oil prices higher and shifting 2026 market expectations from surplus to deficit. In response, OPEC recently lowered its world oil demand forecast for the second quarter by 500,000 bpd, marking its first public assessment of the conflict’s impact. Meanwhile, OPEC+ agreed to raise oil output quotas by 206,000 bpd for May, though key members face production constraints.
Geopolitical Challenges
Saudi Arabia, the world’s largest oil exporter, now faces mounting challenges in transporting crude to global markets. Heightened security risks and disruptions around the Strait of Hormuz have drastically reduced vessel movements, severely constraining export flows despite ample production capacity.
In February, Saudi Arabia’s refinery crude throughput rose by 0.207 million bpd to 3.012 million bpd, up from January’s 2.805 million bpd. Additionally, direct crude burning increased by 21,000 bpd, reaching 248,000 bpd, as per JODI data.
