Saudis Led Surge in OPEC Stalwarts Oil Exports Last Month

Saudi Arabia led a surge in crude exports from stalwart oil-producing giants in the Middle East in June.

The flood may reflect a race by Riyadh — along with neighboring Kuwait and the United Arab Emirates — to expedite barrels out of the Persian Gulf while a conflict between Israel and Iran threatened the region’s shipping corridor. While the trio are entitled to raise crude production under an OPEC+ accord, their exports appear to have climbed even further.