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April Price Crash Dragged Saudi Arabia’s Oil Revenues to 4-Year Low ...Middle East
Saudi Arabia’s revenues from oil exports crashed in April by 21% from a year earlier – to the lowest level in nearly four years – as international oil prices dipped amid concerns about oversupply and potentially weaker global economic growth. Saudi Arabia, the world’s top crude oil exporter and leader of the OPEC+ group, saw its export revenues from oil at $16.5 billion in April, per data from the Kingdom’s General Authority for Statistics (GASTAT) out on Wednesday. The figure showed a decline of 21.2% year over year,…
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