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  • 29-05-21

    Saudi oil exports increase 75 percent annual in March

    (MENAFN)official data stated that Saudi oil exports increased 75 percent annual in March to SR52.3 billion (USD13.95 billion) as non-oil exports amounted at 43 percent to USD5.96 billion, the highest level since July 2018.

    As the economic effect of the Coronavirus pandemic turned into evident, oil prices ropped in March to around USD34 a barrel, according to the General Authority for Statistics (GASTAT) report.

    Oil stayed the dominant export in the month, amounting at USD 19.91 billion — or 70 percent — of exports.

    Oil prices were lower. Brent dropped 60 cents, or 0.9 percent, to USD68.27 a barrel as US West Texas Intermediate (WTI) crude went down 57 cents, or 0.9 percent, to USD65.64 a barrel.

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