Saudi Arabia To Cut Oil Exports For December – 9 November, 2017

Saudi Arabia is set to cut crude exports for the month of December by 120,000 barrels per day less than in November. As OPEC and other oil producers agree to cut output by roughly 1.8 million barrels per day until March 2018, Saudi Arabia, the top oil producer, planned to export roughly 7 million barrels for the month of November which is only slightly higher than the low export months of summer when domestic demand was higher. Crude exports to the U.S. will be over 10 percent lower in December than in November.