Saudi Arabia’s crude oil exports plunged to a nine-year low in May as the historic OPEC+ cuts began, according to data released July 16 by the Joint Organisations Data Initiative. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Shipments dropped to 6.02 million b/d, the lowest since October 2010, from a record 10.237 million b/d just a month earlier. The 23-country OPEC+ coalition enacted a 9.7 million b/d production cut accord starting in May in response to the coronavirus crisis. The drop in exports came as the kingdom’s output declined to 8.486 million b/d, the lowest since December 2010, from the all-time high of 12.07 million b/d in April. The kingdom still managed to boost crude stockpiles to […]