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Saudi Arabia's exports dropped in November with oil revenue falling by 40%

Total revenue was 58.2 billion riyals ($15.5 billion), down from 80.8 billion riyals a year earlier, according to a statement from the General Authority for Statistics

crude oil prices
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Baghdad’s ability to meet these targets depends on whether the Kurdistan Regional Government agrees to reduce supplies from fields under its control

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Saudi Arabia’s exports fell by more than a quarter in November compared with a year ago, driven by another drop in oil demand.
 
Total revenue was 58.2 billion riyals ($15.5 billion), down from 80.8 billion riyals a year earlier, according to a statement from the General Authority for Statistics. Oil exports fell 39.8 per cent during the month.
 
Meanwhile, Iraq plans to cut oil output in January and February to make up for breaching its OPEC+ quota last year, according to the state company that markets the nation’s crude.
 
OPEC’s second-biggest producer will pump around 3.6 million

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First Published: Jan 25 2021 | 2:13 AM IST

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