Saudi Arabia's oil exports to stay below 7 million barrels per day in June: Gulf source - Reuters:
Saudi Arabia is expected to keep its crude exports below 7 million barrels per day in June, while output will stay under its production quota under a global deal to cut oil supply, a Gulf source familiar with Saudi oil plans said on Wednesday.
This shows how Riyadh is reluctant to boost oil supply too quickly and risk a price crash and a build-up in inventories, despite pressure from Washington to reduce oil prices.
U.S. President Donald Trump has said he had called Saudi Arabia and OPEC and told them to lower oil prices, but he did not say whom he spoke to or when the conversations took place.
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