14:41 - 22.08.2024

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August 22, Fineko/abc.az. Saudi Arabia's revenues from oil exports have fallen to a three-year low.

ABC.AZ reports, citing Bloomberg, that the decline in Saudi Arabia's oil export revenues is due to low oil prices and the kingdom's decision to limit the production of this raw material. Oil revenues remain critically important for sustaining Saudi Arabia's economy.

According to the country's statistical agency, sales from crude oil and petroleum products exports in June 2024 fell to $17.7 billion, which is 9% lower than the same month a year ago and 12% lower compared to May of this year.