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FINANCIAL NEWS
Saudi’s oil exports to US drop in March
25 Mar 2017
(MENAFN) According to a Saudi energy ministry official, Saudi Arabia’s crude exports to the US in March posted a drop by around 300,000 barrels per day from February, in line with OPEC’s decision to reduce supply.
U.S. Energy Information Administration data said that the US also imported 1.3m bpd from OPEC’s top exports in February.
Commenting on the EIA data, the official said: ‘Exports may fluctuate week on week, but on average in March exports will be down.’
Moreover, he said that export data showed higher Saudi oil exports in January and February, but those was the result of the shipments loaded in November and December.
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