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1.) JODI-Oil World Database: 1st update on 18 September 2023
2.) 51 countries updated the database with the most recent July 2023 data

Saudi Arabia

Figure 1: Saudi Arabia Crude Production

JanFebMarAprMayJunJulAugSepOctNovDec7,5008,0008,5009,0009,50010,00010,50011,00011,50012,00012,500Production (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Saudi crude production fell by 943 kb/d to 9.01 mb/d – a 25-month low.

Figure 2: Saudi Arabia Crude Exports

JanFebMarAprMayJunJulAugSepOctNovDec5,0005,5006,0006,5007,0007,5008,0008,5009,0009,50010,00010,500Exports (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Saudi crude exports decreased by 792 kb/d to 6.01 mb/d, a 25-month low.

Figure 3: Saudi Arabia Crude Oil and Total Oil Products Closing Stocks

Saudi crude oil and oil products closing stocks rose by 1.69 mb to 236.75 mb. Product inventories built by 4.65 mb while crude inventories fell by 2.96 mb.

Figure 4: Saudi Arabia Crude Oil Direct Use

JanFebMarAprMayJunJulAugSepOctNovDec250300350400450500550600650700Direct Use (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Saudi direct burn increased by 49 kb/d to 592 kb/d.

China

Figure 5: China Crude Oil Imports

JanFebMarAprMayJunJulAugSepOctNovDec8,0008,5009,0009,50010,00010,50011,00011,50012,00012,50013,00013,500Imports (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

China crude imports fell by 2.39 mb/d to 10.32 mb/d, a 6-month low.

Figure 6: China Total Oil Product Demand

JanFebMarAprMayJunJulAugSepOctNovDec12,00013,00014,00015,00016,00017,00018,000Demand (oil) / Gross Inland Deliveries (Observed) (gas) (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Chinese demand fell by 2.71 mb/d to 15.31 mb/d, but was still up 2.11 mb/d from year ago levels.

Figure 7: China Total Oil Product Exports

JanFebMarAprMayJunJulAugSepOctNovDec8001,0001,2001,4001,6001,8002,000Exports (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Chinese product exports rose by 169 kb/d to 1.33 mb/d.

Figure 8: China Refinery Crude Intake

JanFebMarAprMayJunJulAugSepOctNovDec11,50012,00012,50013,00013,50014,00014,50015,00015,50016,00016,50017,00017,500Refinery Intake (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Chinese refinery runs fell by 2.60 mb/d to 14.35 mb/d.

United States

Figure 9: US Crude Oil Closing Stocks

JanFebMarAprMayJunJulAugSepOctNovDec800,000850,000900,000950,0001,000,0001,050,0001,100,0001,150,0001,200,000Closing Stocks (Thousand Barrels (kbbl))20222023Avg 2018-2022Range 2018 - 2022

US crude oil closing stocks fell for a 6th consecutive month, falling 11.45 mb to 790 mb.

Figure 10: US Total Oil Product Closing Stocks

JanFebMarAprMayJunJulAugSepOctNovDec580,000600,000620,000640,000660,000680,000700,000720,000740,000760,000780,000800,000820,000Closing Stocks (Thousand Barrels (kbbl))20222023Avg 2018-2022Range 2018 - 2022

US total product closing stocks rose by 0.47 mb to 719 mb.

India

Figure 11: India Crude Imports

JanFebMarAprMayJunJulAugSepOctNovDec2,8003,0003,2003,4003,6003,8004,0004,2004,4004,6004,8005,0005,200Imports (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

India’s crude imports decreased by 119 kb/d m/m.

Figure 12: India Total Oil Product Demand

JanFebMarAprMayJunJulAugSepOctNovDec3,0003,5004,0004,5005,0005,500Demand (oil) / Gross Inland Deliveries (Observed) (gas) (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

India’s total product demand decreased seasonally by 445 kb/d m/m.

Canada

Figure 13: Canada Crude Production

JanFebMarAprMayJunJulAugSepOctNovDec3,0003,2003,4003,6003,8004,0004,200Production (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Canada’s crude production rose by 105 kb/d to a 5-month high.

Japan

Figure 14: Japan Crude Inventories

JanFebMarAprMayJunJulAugSepOctNovDec330,000340,000350,000360,000370,000380,000390,000400,000410,000Closing Stocks (Thousand Barrels (kbbl))20222023Avg 2018-2022Range 2018 - 2022

Japan’s crude inventories increased by 5.97 mb to a 10-month high.

Spain

Figure 15: Spain Gasoline Demand

JanFebMarAprMayJunJulAugSepOctNovDec406080100120140160Demand (oil) / Gross Inland Deliveries (Observed) (gas) (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Spain’s gasoline demand rose to a 15-year high.

Italy

Figure 16: Italy Gasoline Demand

JanFebMarAprMayJunJulAugSepOctNovDec80100120140160180200220240Demand (oil) / Gross Inland Deliveries (Observed) (gas) (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Italy’s gasoline demand rose to an 8-year high.

Turkey

Figure 17: Turkey Gasoline Demand

JanFebMarAprMayJunJulAugSepOctNovDec405060708090100110Demand (oil) / Gross Inland Deliveries (Observed) (gas) (Thousand Barrels per day (kb/d))20222023Avg 2018-2022Range 2018 - 2022

Turkey’s gasoline demand rose to an 18-year high.