News: Saudi crude oil exports declined to their lowest level in five months in May, according to official figures provided by the country to the Joint Organisations Data Initiative. The country exported 6.935mn barrels per day (b/d) on average in May, lower than the 7.737mn b/d recorded in April. The country produced 10.333mn b/d crude in May, compared with 10.308mn b/d in April. Saudi Arabia is developing new refineries in an aim to become a major supplier of refined oil products (Reuters).
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