OPEC+ oil exports decline in May

Last Monday (18), Reuters reported that Opec+ sharply reduced its oil exports in the first half of May. 

According to Kpler, a company that monitors oil flows, the organization's exports by sea fell by 6.3 million bpd compared to the previous month, towards the 27 million bpd mark. Saudi Arabia reportedly showed the biggest setback, followed by Russia, Kuwait and the United Arab Emirates. 

Petro-Logistics Chief Executive Daniel Gerber also reported that the company estimated a drop for OPEC alone of 4.85 million bpd in the first two weeks of the month.

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