Saudi Arabia Crude Exports Fall to 6 Million Barrels Per Day in April

FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah/File Photo
FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah/File Photo
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Saudi Arabia Crude Exports Fall to 6 Million Barrels Per Day in April

FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah/File Photo
FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah/File Photo

Saudi Arabia's crude oil exports fell to 6 million barrels per day from 6.413 million bpd in March, data from the Joint Organizations Data Initiative (JODI) showed on Monday.
The decline in Saudi exports comes in line with the OPEC+ agreement to cut production, in order to maintain market stability.
OPEC+ has implemented a series of output cuts since late 2022 to support the market amid rising output from the United States and other non-member producers and worries over demand as major economies grapple with high interest rates.
OPEC+ members are currently cutting output by a total of 5.86 million barrels per day (bpd), or about 5.7% of global demand. Those include 3.66 million bpd of cuts, which were due to expire at the end of 2024, and voluntary cuts by eight members of 2.2 million bpd.
On June 2, OPEC+ agreed to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival US production.
OPEC+ will also gradually phase out the cuts of 2.2 million bpd over the course of a year from October 2024 to September 2025. Eight countries, including Russia, had already pledged to cut production.
Monthly export figures are provided by Riyadh and other members of the Organization of the Petroleum Exporting Countries (OPEC) to the Joint Organizations Data Initiative (JODI), which published them on its website.



US Warns Iran at UN: Don’t Target Us or Israel

US Ambassador to the UN Linda Thomas-Greenfield speaks during a Security Council meeting at United Nations headquarters, Friday, Sep. 1, 2024. (AP)
US Ambassador to the UN Linda Thomas-Greenfield speaks during a Security Council meeting at United Nations headquarters, Friday, Sep. 1, 2024. (AP)
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US Warns Iran at UN: Don’t Target Us or Israel

US Ambassador to the UN Linda Thomas-Greenfield speaks during a Security Council meeting at United Nations headquarters, Friday, Sep. 1, 2024. (AP)
US Ambassador to the UN Linda Thomas-Greenfield speaks during a Security Council meeting at United Nations headquarters, Friday, Sep. 1, 2024. (AP)

The United States warned Iran at the United Nations Security Council on Wednesday against targeting it or Israel as UN Secretary-General Antonio Guterres said the "deadly cycle of tit-for-tat violence must stop" in the Middle East.

"Time is running out," he told the council.

The 15-member council met after Israel killed the leader of Lebanon's Hezbollah and began a ground assault against the Iran-backed armed group and Iran attacked Israel in a strike that raised fears of a wider war in the Middle East.

"Our actions have been defensive in nature," US Ambassador to the UN Linda Thomas-Greenfield told the council.

"Let me be clear: The Iranian regime will be held responsible for its actions. And we strongly warn against Iran – or its proxies – taking actions against the United States, or further actions against Israel," she said.

French UN Ambassador Nicolas de Riviere said France wants the Security Council to "show unity and to speak with one voice" to de-escalate the situation. Thomas-Greenfield said the council should condemn Iran's attack and impose "serious consequences" on Iran's elite Revolutionary Guards Corps for its actions.

"We have a collective responsibility, as members of the Security Council, to impose additional sanctions on the IRGC for supporting terrorism, and for flouting so many of this Council's resolutions," the US ambassador said.

Guterres told the council he strongly condemned Iran's attack on Israel. Earlier on Wednesday, Israel's foreign minister said he was barring Guterres from entering the country because he had not done so.

Russia's UN Ambassador Vassily Nebenzia praised Iran for "exceptional" restraint in recent months and said the missile attack on Israel could not be "presented as though all of this happened in a vacuum, as though nothing is happening - and nothing did happen - in Lebanon and Gaza, in Syria, in Yemen."

"But it did happen, and it led to a new, very dangerous spiral of a widening Middle East conflict," Nebenzia said.

In a letter to the Security Council on Tuesday, Iran justified its attack on Israel as self-defense under Article 51 of the founding UN Charter, citing "aggressive actions" by Israel including violations of Iran's sovereignty.

"Iran ... in full compliance with the principle of distinction under international humanitarian law, has only targeted the regime's military and security installations with its defensive missile strikes," Iran wrote to the council.

Israel's UN Ambassador Danny Danon on Wednesday rejected Iran's claim of self-defense.

"It was a calculated attack on a civilian population," he told reporters before the council met. "Israel will not stand by in the face of such aggression. Israel will respond. Our response will be decisive, and yes, it will be painful, but unlike Iran we will act in full accordance with international law."