Saudi Arabia’s Oil Exports To The U.S. Set To Drop To 35-Year Low

Saudi Arabia’s Oil Exports To The U.S. Set To Drop To 35-Year Low

OilPrice.com

Published

Saudi Arabia is significantly cutting its crude oil exports to the United States this month, with shipments likely to hit a 35-year low and reducing the overhang in U.S. oil inventories, Bloomberg reported, citing tanker-tracking data that it has compiled. The drastic cut in Saudi crude oil exports to the U.S. is a radical shift from the Kingdom’s tactics from two months ago, when it sent a fleet of supertankers to flood the U.S. market with oil during the price war with Russia at the end of March and early April. Back in April, the tanker…

Full Article