Money & BusinessSaudi Arabia
Saudi oil exports hit $1 billion a day
Saudi Arabia’s oil exports reached $30 billion in March, the highest in at least six years, driven by a rally in oil prices and rising production.
The value of crude exports, now almost $1 billion a day, increased by 123 percent year on year, the Kingdom’s statistics office said. Saudi Arabia’s crude production rose to 10.3 million barrels a day in March, with Brent oil prices averaging $112 a barrel.
Saudi Arabia’s top five trading partners were a collection of some of the world’s biggest oil importers: China, India, Japan, followed by South Korea and the US.
