Business · Energy & Commodities · 4 hrs ago

Saudi oil exports set for second-highest monthly level since Iran war began

Saudi oil exports set for second-highest monthly level since Iran war began

Saudi oil exports are on course for their second-highest monthly level since the Iran war began at the end of February.

Kpler data puts exports at 5.55 million barrels a day in the first half of October, compared with 7.16 million in September and 7.33 million in February.

In October, Ras Tanura on the Arabian Gulf shipped an average of 2.98 million barrels a day, while Yanbu on the Red Sea shipped 2.34 million.

Saudi Aramco has shifted shipments between the two ports using the East-West pipeline, which links the Eastern Province to Yanbu.

Ras Tanura’s exports stopped in April and May, and Yanbu handled nearly all Saudi shipments in June, averaging 4.29 million barrels a day.

After drones launched from Iraq targeted the pipeline in September, Aramco increased exports through Ras Tanura, whose shipments that month were nearly double Yanbu’s.

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