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Saudi Oil Exports Fall to $159B in July, Down 12.8% Year-over-Year
According to Saudi Arabia's General Authority for Statistics, the country's July oil exports fell to $159 billion, down 12.8% year-over-year and marking the lowest level since May 2025. Total merchandise exports declined 17.2% to $224 billion, the weakest since June 2021. The decline reflects continued disruptions to shipping routes due to regional military tensions, with the Strait of Hormuz and Red Sea corridors facing operational challenges.