Saudi Crude Oil exports drop to 6.721 million bpd in June JODI

India, Aug. 23 -- Saudi Arabia the world's top oil exporter shipped 6. 721 million barrels bpd in June down from 6.942 million bpd in May according to data from the Joint Organizations Data Initiative (JODI).The country produced 9.782 million bpd in June up from 9.670 million bpd in May.In July OPEC and allies led by Russia agreed to extend oil output cuts until March 2020 to prop up the price of crude as the global economy weakens and U.S. production soars.Saudi crude inventories rose to 187.900 million barrels in June from 187.723 million in May the JODI data showed.

Published by HT Digital Content Services with permission from Commodity Online....