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Market Chatter: Saudi Arabia Oil Export Income Hits 3-Year High in March as Prices Surge

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Saudi Arabia's oil export revenue has hit a three-year high at $24.7 billion in March, the first full month of conflict in the Middle East, Bloomberg reported, as it was able to avoid the Strait of Hormuz to continue supplying importers.

Saudi revenue from crude and refined product exports rose 37% versus March of 2025, the General Authority for Statistics said, the article said. That was the highest for any month since Oct. 2022 and was also inflated by the surging price of oil.

The news agency said the rise in oil price benchmarks was 43% in March, after the closure of the Strait of Hormuz, following Iranian threats against ships attempting to sail through it, cut of an estimated 20% of the world's hydrocarbons supplies.

Saudi Arabia was fortunate in comparison to some Gulf nations, in that it could make use of a pipeline crossing the country to pump exports to the Red Sea and for despatch to importers.

As a result, its export volumes had recovered to about 70% of pre-war levels by the end of March, it said.

has contacted Saudi Arabia's Ministry of Energy to seek comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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