Saudi Oil Exports Decline with Voluntary Production Cuts

Saudi Arabia's crude oil exports declined in May, according to data from two companies specialized in monitoring shipments, amid the effects of voluntary production cuts pledged by the kingdom and other OPEC+ producers after a surge in April. Data from the tanker tracking company "Petro Logistics" showed that the largest producer in OPEC raised crude exports in April by 470,000 barrels per day compared to March.