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U.S. Imports of Saudi Crude Oil Fall to Lowest in Three Decades

  • Saudi crude shipments to the U.S. slumped in October
  • Drop in Saudi imports comes as OPEC+ negotiates output cuts

American refiners received the least oil from Saudi Arabia since 1985 as a slump in volumes shipped out by the desert kingdom in October are finally reaching U.S. shores.

In October, Saudi Arabia sent just under 100,000 barrels a day of oil to U.S. refineries as shipments to China surged at that time. Tankers from Saudi Arabia take about six weeks to reach either the Gulf or Pacific coasts of the U.S. Hence, the delivery of just 73,000 barrels a day to U.S. customers last week, as preliminary U.S. Energy Information Administration data show.