Saudi Arabia's oil exports plunge $11 billion in first quarter

The value of Saudi Arabia’s oil exports plunged by 21.9% year on year in the first quarter to $40 billion, corresponding to a decline of about $11 billion, official data showed on Sunday. Brent crude prices fell more than 60% in the quarter hurt by the coronavirus pandemic and an oil price war between Saudi Arabia and Russia following the collapse in March of talks on further production cuts.
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