Saudi Oil Export Revenue Slumps to Lowest in Almost Four Years

Saudi Arabia’s revenue from oil exports slumped to the lowest in almost four years in April as crude prices crashed.

Proceeds from the sale of crude oil and refined products declined to $16.5 billion, according to data released from the country’s main statistics body. That’s down about 21% year-on-year and 7% from the prior month.

Crude prices plunged in April, with benchmark Brent dropping more than 15% that month to a four-year low after US President Donald Trump unveiled global trade tariffs. Within hours of that decision, OPEC+ shocked energy traders by saying it would speed up plans to ...