Oil Prices Slide As Saudi Arabia Confirms Another Export Boost

Saudi Arabia is not backing down from the oil price war for market share, pledging another increase in its crude oil exports starting in May, despite a growing global glut amid crashing demand. “[T]he Kingdom intends to increase its crude oil exports, starting from May, by about 600 thousand barrels per day, bringing the total of Saudi petroleum exports to 10.6 million barrels per day,” an official at the Saudi Arabian Energy Ministry said on Monday, as carried by the official Saudi Press Agency. “This increase came as a…