The collapse in oil prices from early March saw that month’s Saudi oil export earnings slump to just $8.8bn, half January’s levels. They further collapsed to just $6.4bn for April, the lowest monthly export revenue figure in well over a decade.

This left the country’s overall export earnings at just $9.9bn, resulting in an occurrence not seen in many years, possibly many decades: a Saudi trade deficit. (CONTINUED - 562 WORDS)