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Saudi burning more crude oil for domestic use

Saudi Arabia, the world's top oil exporter, is burning more crude oil to generate electricity at home, and possibly eliminating demand for...

July 27, 2009 12:18 by



Saudi Arabia, the world’s top oil exporter, is burning more crude oil to generate electricity at home, and possibly eliminating demand for imported fuel this summer, reports Reuters.

Saudi Arabia’s decision to use to use output from a new oilfield domestically allows the nation to keep wells pumping at the new facility, and maintains the kingdom’s commitment to OPEC’s export cuts.

Saudi burns approximately 470,000 bpd, up 62 percent from 2008, according to consultancy FACTS Global Energy.



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