Saudi Arabia’s crude oil stockpiles fell in March for the fifth month in a row reaching the lowest level in 18 months as the kingdom kept shipping crude to meet customer demand while keeping a lid on production. Stockpiles dropped to 296.7 million barrels in March from 305.6 million barrels in February, according to data published on the website of the Riyadh-based Joint Organisations Data Initiative. Stockpiles peaked at 329.4 million barrels in October and have been in decline since then, the data showed. Saudi Arabia, Russia, Venezuela, and Qatar had an initial agreement in February to freeze production at January levels to curb a global glut and shore up prices. Negotiations between OPEC members and other producers on April 17 in Doha ended without a deal to limit output after Saudi Arabia and allies in the Gulf Arab region wouldn’t agree to any accord unless all members of […]