Media: Saudi Arabia will cut oil exports to the United States to at least 30 years

© AP Photo / Hasan JamaliДобыча oil in the middle East. Archival photoMedia: Saudi Arabia will cut oil exports to the United States to at least 30 years© AP Photo / Hasan Jamali

Saudi Arabia reduces oil exports to the lowest in about 30 years, the July sales data will be minimal with the same month in 1988, the newspaper the Wall Street Journal, citing familiar with the situation sources.

«The state Saudi Aramco expects its U.S. sales fall below the level of one million barrels per day in June, and then drops to 850 thousand barrels per day in July. The July figure for exports to the US will be the lowest for that month since 1988, according to the energy information Administration of U.S. Department of energy», — notes the edition.

Export Saudi Aramco in August, the company expects that will be reduced by 100 thousand barrels per day, said sources. This indicator will be minimal for August 2009.

Some analysts believe that these reductions in exports of Saudi Arabia to the United States to help implement the agreement by OPEC and others outside the cartel States to reduce global stocks of «black gold», especially in the USA, the newspaper writes.

«The decline in exports to the US shows that Saudi Arabia is serious about solving the problem of excess supply,» — said the newspaper global energy strategist at Credit Suisse Group AG, Jan Stuart (Jan Stuart).

OPEC and a number of not members of the organization countries agreed in late 2016 in Vienna on the reduction of its oil production to total 1.8 million barrels per day from October levels, of which 300 thousand are in Russia. The agreement was concluded for the first half of 2017 with possibility of extension. In may, its validity was extended for nine months until the end of March 2018.

Media: Saudi Arabia will cut oil exports to the United States to at least 30 years© RIA Novosti, Integratiebeleid in fotomonster and objectives of OPEC

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