Despite the lowest production and export volumes on record, Saudi Arabia saw the value of its oil exports surge by 37.4% in March to the highest level in three and a half years, data from Saudi Arabia’s General Authority for Statistics showed.
The value of the Kingdom’s total merchandise exports rose by 21.5% in March 2026 from a year earlier, with oil exports surging by 37.4% as the soaring oil prices and the re-routing of crude exports to the Red Sea port Yanbu helped the world’s top crude exporter offset most of the traffic…