Saudi Arabia Quietly Decreasing Dependence on Crude Exports: Lee - Bloomberg:
"While an Aramco IPO continues to grab the headlines, Saudi Arabia is quietly getting on with the business of weaning itself off a dependence on crude oil exports, with flows of refined products soaring and direct burning of crude near multi-year lows, writes Bloomberg oil strategist Julian Lee.
Data for December from the Joint Organisations Data Initiative in Riyadh show that Saudi Arabia is continuing to make progress in reducing its dependence on crude oil for export and power generation, with its refinery inputs hitting a new high and direct crude use near the lowest since 2009.
Crude’s share of total Saudi oil exports was 82 percent on average in the last three months of 2017, down from 92 percent in the final quarter of 2013."
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