Kpler Data Saudi Arabia's Oil Exports Fall to Lowest In Decade

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Saudi Arabia News

Crude,Oil,Oil Exports

Recent data from Kpler reveals a significant decline in crude oil exports from major OPEC producers in June, driven largely by weak demand in Asian markets and increased domestic consumption in the Middle East

. This has resulted in Saudi Arabia's exports plummeting to their lowest level in over a decade.

production fell to its lowest point of the year as Saudi Arabia, Russia, and Iraq all implemented cuts to curb overproduction and respond to lower Asian demand. Saudi exports decreased dramatically by 930,000 barrels per day to 5.42 million barrels per day, a level not seen since at least 2013. Other Middle Eastern producers, including Iraq, Kuwait, Iran, and the UAE, also reduced their exports significantly.

 

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