Saudi Arabia oil exports to US nosedive | WHAT REALLY HAPPENED


Saudi Arabia oil exports to US nosedive

Saudi Arabia’s crude oil exports to US are falling sharply, with shipments so far this month at just 1.6 million barrels, according to data compiled by Bloomberg, versus 5.75 million barrels a year ago.

For the whole of January, Saudi Arabia exported just 2.69 million barrels of crude to the United States. The decline follows Saudi Arabia’s decision to cut its crude oil production — primarily heavy crude grades — by more than it agreed to at the December OPEC+ meeting as it seeks higher oil prices.

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