On Thursday, Saudi Arabia’s General Authority for Statistics showed that the value of the country’s oil exports in May slumped amid the coronavirus crisis and lower oil revenues and the country is facing a deep recession in 2020.
In May, Saudi’s oil exports crashed in value by 65% year-on-year at nearly USD12 billion.
Total exports including non-oil exports of goods such as chemicals and plastics edged down by 1.6% month-on-month.
