SHANA - Saudi crude oil storage fell by 480,000 barrels in June compared to May 2018.

Crude oil inventories of Saudi Arabia fell to 234,920,000 barrels in June, down by 480,000 barrels from 235,400,000 barrels in May.

Saudi Arabia, the largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), produced 10.489 mbd in June, up 480,000 barrels from May. This increase is proportional to the reduction in the country's crude oil storage.

According to the JODI Institute, Saudi Arabia's oil production in April 2018 was 9.868 million barrels per day, from which 7.312 mbd was exported.

Saudi Arabia also shipped 6.984 mbd and 7.244 mbd of crude oil in May and June, respectively.