Global Crude Oil Shipments Fall in June on Saudi Export Slump

Falling crude oil exports from Saudi Arabia accounted for half of the 1 million barrels per day (bpd) drop in global seaborne shipments in June compared to May, tanker-tracking data compiled by Bloomberg showed on Tuesday. The estimated decline of about 1.08 million bpd in global crude oil shipments was the biggest monthly drop in seaborne crude supply so far this year, according to the data.   Saudi Arabia, the world’s top crude oil exporter, led the decline, likely because of burning more oil domestically for power generation…