Saudi Arabia's crude oil supply rises above 12mn bpd

• A global oil supply cut pact expired on Tuesday, lifting restrictions on output by OPEC members, Russia and other producers.

A global oil supply cut pact expired on Tuesday, lifting restrictions on output by OPEC members, Russia and other producers.

Saudi Arabia had said that oil exports will be about 10 million bpd, but it gave no indications on how much crude would go into storage amid global demand destruction due to the spread of the coronavirus epidemic.