Saudi Crude Exports Fall Just as Domestic Stockpiles Dwindle - Bloomberg

Saudi Crude Exports Fall Just as Domestic Stockpiles Dwindle - Bloomberg:

"Saudi Arabia, the world’s biggest crude exporter, shipped the least oil in almost three years in June, just as domestic stockpiles are dwindling. 

Exports fell to 6.9 million barrels a day, the lowest since September 2014, from 6.92 million in May, according to data Thursday on the Joint Organisations Data Initiative website. Domestic stockpiles stood at 256.6 million barrels, the lowest since January 2012, the data show.

“You can assume exports will fall even further going forward because they can’t keep running down stockpiles,” said Amrita Sen, an analyst at Energy Aspects in London. “It is clear that the rebalancing process is in full swing, we are drawing down stockpiles everywhere.”"



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