I doubt anyone really knows how accurate data regarding Saudi Arabian production is, but if this is accurate, this is astonishing. As a rule of thumb, Saudi Arabian crude oil production is around 11 million bopd. In my mind, it's noteworthy if Saudi Arabian production drops to 10 million bopd. But look at this:
In addition, Saudi Arabian production should increase int he summer pushed by domestic demand: Saudi uses crude oil to generate electricity for its air conditioning demands.
We should be getting Saudi Arbian-US import data for April, 2019, any day now.
Link here.
