Saudi crude oil exports dropped to 3.434 million barrels per day in May, a record low, down from 3.986 million bpd in April, according to JODI data. This decline is attributed to ongoing US-Iran conflict disrupting Gulf shipments and increased domestic crude burning. Yemen's Houthis also threatened a naval blockade on Saudi Arabia, escalating geopolitical risks to global energy supplies. Sustained higher oil prices due to supply disruptions could fuel global inflation, potentially increasing demand for gold as a hedge and influencing USD/PKR stability.
بحوالہ / Source: www.brecorder.com