Saudi Arabia’s Crude Oil Exports Dip To Record Low In June

The world’s top oil exporter, Saudi Arabia, saw its crude oil exports in June drop to their lowest on record at just below 5 million barrels per day (bpd), as OPEC’s de facto leader led efforts from the OPEC+ group to withhold a record amount of crude from the market in response to the crash in demand. According to data from the Joint Organisations Data Initiative (JODI), Saudi Arabia’s crude oil exports plunged by 17.3 percent in June compared to May, to stand at 4.98 million bpd. Since March this year, Saudi crude oil exports…