Saudi Arabian crude oil exports in July rose by about 3.3% from June to 4.125 million barrels per day, the highest level since March, data from the Joint Organizations Data Initiative (JODI) showed on Tuesday.
Crude oil production in the kingdom increased to 8.135 million bpd from 7.122 million bpd in June.
Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries provide monthly export figures for publishing on the JODI website.
“Saudi crude and product exports increased in July as regional tensions moderated,” said UBS analyst Giovanni Staunovo, though he added that exports could be weaker in August, particularly from Red Sea terminals, because of renewed tensions involving the Houthis.
Meanwhile, Saudi refinery crude throughput dropped by 0.020 million bpd to 2.478 million bpd in July from 2.498 million bpd the previous month, the data showed. Direct crude-burning decreased by 22,403 bpd to 561,097 bpd.
On the geopolitical front, Iran can reopen the Strait of Hormuz within seven days if the United States eases military pressure and lifts its blockade on Iranian ports, a senior Iranian official told Reuters on Tuesday.
Houthi fighters pushed to seize strategic heights in Yemen on Monday to cut off the Red Sea coast from remaining areas held by Saudi-backed forces after a report that US President Donald Trump had called off American strikes on the group at the last minute.
Saudi Arabia resumed operations at its East-West Pipeline and exports could follow from the Red Sea port of Yanbu later on Tuesday, three sources briefed on the matter said.
Drone attacks had forced Saudi Arabia to shut the pipeline on September 13.
(Reporting by Pablo Sinha in Bengaluru Editing by David Goodman )