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Saudis Cut Oil Exports To U.S. To Boost Crude Prices










Tsvetana Paraskova

Oilprice.comNovember 16, 2018




































Saudi Arabia has been slashing oil exports to the United States over the past two months, in what looks like a move to force a reduction in the world’s most transparently reported inventories that could put the Saudis on a collision course with U.S. President Donald Trump, who has repeatedly said that oil prices should be much lower.

The Saudis started to reduce shipments to the United States in September, and this month they are loading around 600,000 bpd on cargoes en route to the United States, down from more than 1 million bpd in July and August for example, CNBC reports, quoting figures from ClipperData.

According to ClipperData estimates, Saudi oil exports to the United States could soon reach their lowest levels on record.

The Saudi tactic to send reduced volumes to the States—which regularly reports every week crude oil inventories—succeeded last year.