Saudi Arabia has its oil exports cut

Official data showed that Saudi Arabia's oil exports had dropped 226,000 barrels per day in April, exporting a total of 7,000,600 bpd, when in March this volume was 7,232,000.

Following the Pact agreed with OPEC, the Saudis, the larger producers in the Organization of petroleum exporting countries, reduced exports, with shipments of oil in April having been reduced by 400,000 bpd compared to the same month of 2016.

Despite lower exports, the country's stocks had 3,927,000 barrels drop in March, a total of 262,927,000 barrels. In October 2015, the reserves amounted to 329,430,000.

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