Saudi Arabia curbs oil shipments to United States:

15 Jul 2017   Saudi Arabia, USA

Saudi Arabia is trying to support oil prices by reducing its crude shipments to the United States in a bid to cut the amount of oil in commercial storage. U.S. crude imports from Saudi Arabia averaged less than 900,000 barrels per day (bpd) in the four weeks ending on July 7, according to the U.S. Energy Information Administration. U.S. imports from Saudi Arabia are running at the slowest rate since 2015, and the slowest for the time of year for over five years ( tmsnrt.rs/2tM4mAO and tmsnrt.rs/2thOpza ). Imports from Saudi Arabia will fall even further to less than 800,000 bpd in August, according to a Saudi industry source familiar with the kingdom’s oil policy. “Saudi Arabia is keen to see an improvement in the oil market and accelerate the […]

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