Saudi Oil Exports Dropped in March: down from 7.307 to 7.235 mbd
The crude oil exports from Saudi Arabia, the world's largest exporter of the commodity, have fallen from 7.307 to 7.235 mbd in March, according to the data provided by the OPEC on regular basis. The fall is significant in light of the war in Ukraine, because analysts expected a steep spike from the Kingdom, when it comes to crude oil exports; it did not happen, though. The unexpected development sheds some light on the reluctance on Saudi's part to increase the production in order to bring the prices down that wreck havoc in the global economy as a whole; by doing so, it is clearly on the crosshairs of its greatest Western ally, the US. On the other hand, as Saudi Arabia exports most of its crude oil to Asia, the drop also ominously reflects the collective state of the economy in the region too; the precarious situation in Sri Lanka and the worsening economic situation in Pakistan are two grim reminders of the current situation that could get worse before getting better at some