Saudi Oil Exports Rose In July From Record Lows

Saudi Arabia, the world’s largest oil exporter, saw its crude oil exports rise to 5.734 million barrels per day (bpd) in July, up from a historic low of below 5 million bpd for June, when OPEC’s de facto leader slashed for a month its oil production by an additional 1 million bpd on top of its share of cuts in response to the crash in demand. According to data from the Joint Organisations Data Initiative (JODI) database, which collects self-reported figures from 114 countries, Saudi Arabia’s crude oil exports in July rose to 5.734…