Saudi Oil Exports Holding Strong Despite Production Cut Commitment

Saudi Arabia’s crude oil exports fell just slightly in February, in stark contrast to the bold voluntary production cuts that the Kingdom had offered to make, according to PetroLogistics and Kpler data cited by Reuters. Saudi Arabia had shocked the oil markets when it voluntarily offered to withhold an additional million barrels of oil production per day from the market in addition to what it was already tasked with cutting as part of the OPEC+ group. It vowed to continue those cuts through April. But data shows that Saudi Arabia’s…