Saudi Arabia's Oil Exports Plunge To March 2021 Lows

Saudi crude oil exports plummeted in August to the lowest in two and a half years as the Kingdom continued to slash production by 1 million barrels per day (bpd) to keep markets tight and push oil prices higher. Shipments out of the world’s top crude exporter fell in August to the lowest levels since March 2021—to around 5.6 million bpd, with exports to China and the U.S. slumping to multiyear lows, preliminary data compiled by Bloomberg showed on Friday.      The export volume estimated in August compares with crude…