Daily Energy Report

Significance of Saudi’s cut, Fuel subsidy deception, Plunging oil stockpiles, US crude production, BRICS want Saudi Arabia, US Venezuela sanctions, Canada production up, and more.

Chart of the Day: How significant is the export cut by Saudi Arabia, the UAE, and Kuwait? 

Summary

Figure (1) above shows the sum of crude and condensate exports by Kuwait, Saudi Arabia, and the UAE. It shows that exports have been declining in 2023 and they are lower than exports last year. 

EOA’s Main Takeaway