Saudi Crude Oil Exports Slump to 10-Month Low

The world’s top crude exporter, Saudi Arabia, shipped the lowest volumes of oil in June for ten months as Saudi domestic consumption grew and Russia continued to take market share from the Kingdom in key Asian export destinations. Saudi crude oil exports fell to 5.6 million barrels per day (bpd) in June, tanker tracking data compiled by Bloomberg showed on Friday. This export volume is only 250,000 bpd more than the low Saudi exports at the beginning of the pandemic in 2020, according to Bloomberg’s estimates.  Earlier…