Saudi Arabia Sees Oil Export Revenues Slide In Q1

Saudi Arabia exported crude oil worth some $40 billion during the first quarter of the year, down by 21.9 percent, or $11 billion, on the first quarter of 2019, Reuters reports, adding that Brent crude fell by as much as 60 percent in the three-month period. Oil revenue, as a result, slid down by 24 percent to $34 billion during the quarter, official data showed. The Kingdom has been one of the most active producers in trying to rein in the oil price slide that undermined oil export revenues. The country agreed to cut a solid portion of its daily…