According to new data compiled from the Joint Organizations Data Initiative (JODI) and released on Wednesday, Saudi Arabian crude oil shipments have fallen to their lowest levels in nearly two years,

In June, oil exports from Riyadh added up to 6.80 million barrels per day (bpd), 124,000 bpd less than May, according to data compiled by JODI.

For the first time this year, crude exports from the kingdom fell below 7 million bpd, as the world’s largest oil exporter, along with a number of other major OPEC+ producers, opted for a collective reduction in production output of 1.6 million bpd in May.

In June, Saudi Arabia’s stockpiles of oil products fell by 1.64 million barrels, as its crude inventories increased by 1.45 million barrels, according to JODI data.

In July, August, and September, it is expected that oil production in Saudi Arabia will average 9 million bpd after the nation implemented a unilateral voluntary cut in production output of 1 million bpd, which the kingdom said was done to “support the stability of the oil market.”

Originally, the output cut was intended to only be performed in July, however it was later extended to August and September.

Last week, the International Energy Agency (IEA), revealed that the crude oil supplied by the OPEC+ group fell by 1.2 million bpd to 50.7 million bpd in July, the lowest level seen in almost two years.