Saudi Arabia’s Oil Revenues Slump To The Lowest Level Since 2021 ...Middle East

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Saudi Arabia’s Oil Revenues Slump To The Lowest Level Since 2021
Saudi Arabia’s oil revenues plunged in May to the lowest level since September 2021, official data showed on Tuesday as the world’s top crude oil exporter lowered shipments while oil prices were significantly lower than in the spring of last year. The value of Saudi Arabia’s total exports slumped in May, mostly due to the decline in oil exports, the Kingdom’s General Authority for Statistics said on Tuesday. Oil revenues slumped by 37.7% year over year to $19.2 billion (72 billion Saudi riyals) in May 2023. This compares…

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