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Kpler data show that Saudi Arabia increased crude exports to the United States in June.

Saudi Arabian oil exports reached their highest level in over a year during June, as the country shipped more crude into overseas storage amid fears that supply disruptions could be caused by conflict in the Middle East.

OPEC’s largest producer has intervened on oil markets since decades ago to supply more oil when there are disruptions in the market or reduce output when they feel that the market is oversupplied.

Kpler data show that crude exports increased by 450,000 barrels a day (bpd), from the level of May to 6.33 millions bpd, in June. Kpler predicts that there could be an increase to almost 7.5 millions bpd in July.

The rise in prices last month came against the backdrop of concerns about disruptions to supply due to conflict between Israel, Iran and a U.S. strike on Iranian nuclear sites.

OPEC+ sources claim that Saudi Arabia and the OPEC+ producer groups are looking to increase market share following years of production cuts.

The June increase coincided also with a June decision by OPEC+ that it would raise its oil production quotas by 411,000 bpd. (Reporting and Editing by David Goodman).

(source: Reuters)