Saudi Arabia's crude oil exports slipped more than 2% in February data from the Joint Organizations Data Initiative (JODI) showed on April 17.

The country's crude exports fell to 7.46 million barrels per day (MMbbl/d) in February from 7.66 MMbbl/d in January.

Meanwhile, the world's largest oil exporter's crude production was little changed at 10.45 MMbbl/d in February.

Earlier this month, Saudi Arabia's energy ministry said that the kingdom is voluntarily cutting its oil production by 500,000 bbl/d from May until the end of 2023.

Despite the output cut, state oil giant Saudi Aramco will supply full crude contract volumes loading in May to several North Asian buyers, several sources with knowledge of the matter said.

Saudi's domestic crude refinery throughput decreased by 0.134 MMbbl/d to 2.443 MMbbl/d in February, while direct crude burn rose 17,000 bbl/d to 329,000 bbl/d.

Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to JODI, which publishes them on its website.

The International Energy Agency (IEA) said on April 14 that it sees 2023 demand at a record 101.9 MMbbl/d, up 2 MMbbl/d on last year and on par with its prediction last month.

While, the U.S. Energy Information Administration has predicted that non-OPEC countries will account for a higher percentage of oil production gains this year and next, a reversal of the last two years.