Saudi Arabia exported nearly 2.25 billion barrels of crude oil in the past 10 months of the current year valued at SR 921 billion.
According to economic expert Fahad bin Jumaa, local consumption stood at 784 million barrels or 26 percent of the total production in the said period.
He predicted that Saudi oil exports in the forth quarter of the current year will hit 650 million barrels and yield SR 256 billion. However, oil production is set to drop to 9.8 million bpd with the recent decline of Nimex and OPEC basket prices to $ 96 and $ 106 respectively, he said.
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