Business · Energy & Commodities · 6 hrs ago

Nine Saudi oil tankers dock at Gulf export terminals

Nine Saudi oil tankers dock at Gulf export terminals

Satellite images showed nine very large tankers docked at Saudi Gulf terminals on Wednesday, the busiest day there since regional tensions began in late February.

The ships can carry about 18 million barrels in total, but they may leave at different times, so that figure is not a measure of oil shipped in one day.

Saudi oil exports have remained near high levels during October, although estimates from tracking firms differ.

One estimate puts exports at 6.5 million barrels a day since the start of October, compared with 6.6 million a day in September.

The estimates vary partly because some tankers switch off tracking signals, making their locations harder to verify.

Unclear shipping data makes it harder to judge oil supplies, which can affect global prices.

Saudi Arabia is shipping oil through both the Gulf and the Red Sea, and some Asian buyers have been asked to resume receiving cargoes from Yanbu in November.

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