Saudi Arabia Cuts U.S. Oil Exports to Work Down Global Supply Glut

Peace and Freedom

Kingdom is slashing exports to a near three-decade low for this time of the year; move could reinforce OPEC’s production cuts

A view of Saudi Aramco’s Manifa oil field in 2015.
A view of Saudi Aramco’s Manifa oil field in 2015. PHOTO: SAUDI ARAMCO/REUTERS

Saudi Arabia is slashing its U.S. oil exports to a near three-decade low for this time of the year, intensifying its efforts to reduce a global supply glut that has been pummeling crude prices.

The state-owned Saudi Arabian Oil Co. expects its sales to the U.S. will drop below one million barrels a day in June, then slide to about 850,000 barrels a day in July, according to people familiar with the matter. The July figure would be the its lowest export total to the U.S. for that month since 1988, based on figures from…

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Direct Descendant of, Roman General, and Consul of Rome, BRITTIUS, of the Imperial Roman Army.
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