Saudi Arabia Crude Oil Exports Reduced

The International Monetary Fund data showed that global economic growth was slowing, and the United States might release emergency oil reserves and exempted some countries from importing Iranian crude oil. Meantime, Saudi Arabia’s and Russia’s output increased. Therefore, international oil prices fell again, Brent crude oil futures fell to the lowest in the past three months. However, it was worried that US crude oil inventories fell and US demand for refined oil surged. Saudi Arabia planned to reduce crude oil exports in August, and WTI rose continuously for four days.