Saudi Arabian oil exports amounted to a massive $20bn in May according to the kingdom’s latest trade statistics. This comprised of 80% of total export revenues of $25.1bn.
The kingdom is reaping the benefits of rising oil prices, securing monthly revenue totals not seen since 2015. Given that crude and products exports fell to their lowest level of the year at 8.87mn b/d in May and will have grown since, Riyadh can look forward to sizeable further gains. (CONTINUED - 78 WORDS)