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Saudi Arabia’s crude exports hit nine-month high in March
Saudi Arabia’s crude oil exports rose for the second straight month in March, reaching their highest in nine months, data from the Joint Organizations Data Initiative (JODI) showed on Monday. Why it is important Saudi Arabia is the world’s largest exporter of crude oil. Sources with knowledge of the matter have told Reuters that Saudi Arabia and its allies in the OPEC+ group could extend some voluntary output cuts if demand fails to pick up. By the numbers Crude exports from the world’s largest oil exporter increased 1.5% to 6.413 million barrels per day (bpd) in March, up from 6.317 million bpd in February. ... (full story)