Saudi slashes July gasoline imports by 40pc

Saudi Arabia, the world’s top oil exporter, will slash gasoline imports by 40 percent in July as new domestic production capacity comes online, traders said on Monday.

The world’s top oil exporter is expected to import around 34,100 barrels per day (bpd) of the motor fuel in July, because of the start-up of a gasoline production unit at its $10.3 billion Rabigh Refining and Petrochemical Company.