After over a year of pandemic-driven volatility and weak oil demand, Saudi Arabia is now experiencing an oil export boom. Saudi Arabia’s oil exports increased in March by 75 percent year-on-year, at a value of almost $14 billion, according to a General Authority for Statistics (GASTAT) report, with crude oil accounting for 70 percent of the country’s total exports.
Low demand, which drove down oil prices, was extremely detrimental for the world’s largest oil exporter, which saw exports drop sharply throughout 2020. However,…Saudi Arabia’s Oil Exports Soar Ahead Of OPEC+ Meeting
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