Saudi Arabia’s oil export revenues fell sharply to a near-four year low in April, as the kingdom’s core industry was hit hard by the fallout from US President Trump’s ‘Liberation Day’ tariff announcements. The latest government statistics show that oil export revenues dropped by $1.3bn in April to just $16.5bn, the lowest monthly figure since June 2021 (see chart 1 & 2).
Trump’s Liberation Day Tariffs Hit Saudi Revenues
Saudi oil export revenues fell by 7% in April as the sector was buffeted by the economic uncertainty generated by US ‘Liberation Day’ tariffs. More pain will have been on the way in May as prices continued their downwards trajectory, but this may prove the low-point.
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Tables
Opec+ 'Group Of Eight' Required Production (Mn B/D)
Charts
1: Saudi Arabia’s Monthly Oil Export Revenues ($bn) Dropped To A Four-Year Low In April As ‘Liberation Day’ Tariffs Hit Oil Prices
2: Saudi Arabia's Monthly Oil Export Revenues Keep On Dropping ($Bn)
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