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Saudi Oil Exports to U.S. Plunge To Lowest Level in 35 Years

  • Just one Saudi crude cargo has sailed for America this month
  • Kingdom officials say oil exports to the U.S. to remain low
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After flooding the U.S. with crude earlier this year, Saudi Arabia has all but cut off the taps to the American oil market.

The kingdom has exported just one cargo to the U.S. so far in June, equivalent to about 133,000 barrels a day, tanker-tracking data compiled by Bloomberg show. That’s about one-tenth of the 1.3 million barrels a day it shipped in April, when Riyadh flooded the global market during a brief price war against Russia.