UPDATE 1-Saudi Arabia crude exports rebound in July from historic lows

(Adds detail, background and graphic)
Sept 17 (Reuters) - Saudi Arabia's crude oil exports
rebounded in July to 5.73 million barrels per day (bpd) from a
record low in June, official data showed on Thursday.
At 4.98 million bpd, crude exports in June were the weakest
on record, according to data from the Joint Organizations Data
Initiative (JODI) stretching back to 2002. Output from the Organization of the Petroleum Exporting
Countries (OPEC) rose by more than 1 million bpd in July as
Saudi Arabia and other Gulf members ended voluntary supply cuts,
on top of an OPEC-led deal to curb production. An easing of lockdowns and lower supply helped benchmark
Brent crude LCOc1 hold above $40 a barrel throughout July
after plunging to a 21-year low of $15.98 in April, though gains
were kept in check by fears of a second wave of COVID-19.
O/R
OPEC+ has been reducing output by 7.7 million bpd, or about
8% of global demand, but the group is unlikely to announce
further curbs in its virtual meeting later on Thursday.
Saudi Arabia's crude production rose 13.3% month-on-month in
July to 8.48 million bpd, its lowest since December 2002.
Saudi's domestic crude refinery throughput fell 13.2% to
2.09 million bpd in July, while direct crude burn rose by
176,000 bpd to 645,000 bpd.
Saudi total oil product demand in July rose by 219,000 bpd
to 2.38 million bpd, data on the JODI website showed.
Meanwhile, the world's top oil exporter cut its October
official selling price for the Arab Light crude it sells to Asia
by the most since May. Monthly export figures are provided by Riyadh and other
members of the Organization of the Petroleum Exporting Countries
(OPEC) to the Joint Organizations Data Initiative (JODI), which
publishes them on its website.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Saudi Arabia's July crude oil exports recover from record low
https://tmsnrt.rs/3c8iFEs
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>