March shipments fell 31.6% month-on-month, the lowest since JODI began tracking data, amid a sharp drop in production.
Saudi Arabia’s crude oil exports plunged to 4.974 million barrels per day in March, a record low since data tracking began. The 31.6% month-on-month decline from February’s 7.276 million bpd reflects a broader contraction in output, which also hit a record low of 6.967 million bpd.
February’s production stood at 10.882 million bpd, underscoring the steep reduction in activity. The data, released on May 20, 2026, highlights a significant shift in the kingdom’s oil strategy amid global market conditions.
The figures suggest potential supply constraints, though no immediate market reaction was detailed in the release.