Saudi Arabia crude oil production fell 0.4% M-o-M to 10.63 mbpd in August from record high 10.67 mbpd in July. The record high production in July was due to high demand in the summer season. On an annual basis, crude production growth accelerated to 3.6% in August from 3.0% in July. Crude oil exports fell 4.2% M-o-M to 7.30 mbpd in August from 2.2% M-o-M in July and slowed to 4.4% Y-o-Y from 4.8% Y-o-Y in July. Crude oil stocks depletion slowed, dropping 0.2% M-o-M in August after falling 2.8% M-o-M in July; yet, accelerated on an annual basis to fall 14.0% in August from 12.1% in July. Other data shows direct crude oil burn growing 6.0% M-o-M to 739 thousand bpd in August, but falling 12.9% Y-o-Y. (JODI)