Rising Saudi Exports Drive OPEC Shipments Increase In May ...Middle East

The ten OPEC members bound by the OPEC+ production agreement have increased their collective crude oil exports by more than 1 million barrels per day (bpd) so far in May, tanker tracker Petro-Logistics said on Friday. All crude oil exports from OPEC—including Iran, Venezuela, and Libya which are exempted from the OPEC+ pact—have increased by 500,000 bpd so far this month, Petro-Logistics noted in a tweet. However, a surge in Saudi Arabia’s oil exports has driven the exports of the OPEC+ pact participants at OPEC up by over 1 million…

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