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Saudi Arabia crude oil sales logistics

Aramco is stepping in to manage increased shipping operations directly after Saudi Arabia sold nearly 100 million barrels of crude oil for October and November delivery. These sales, which started mid-last week with refiners in China, India, Japan, and South Korea, are designed to ease a tightening market across Asia. Buyers in the region have been facing higher prices alongside reduced flows from Iran and growing caution regarding Russian crude. Because the East-West pipeline remains offline following the September 10 attack, most of these shipments will transit through the Strait of Hormuz instead. The move aims to alleviate price pressures caused by the current supply constraints. Source: Bloomberg / Writer: Samuel

1mo

Jolyon@jolyon

Seguir

Saudi Arabia crude oil sales logistics

Aramco is stepping in to manage increased shipping operations directly after Saudi Arabia sold nearly 100 million barrels of crude oil for October and November delivery. These sales, which started mid-last week with refiners in China, India, Japan, and South Korea, are designed to ease a tightening market across Asia. Buyers in the region have been facing higher prices alongside reduced flows from Iran and growing caution regarding Russian crude. Because the East-West pipeline remains offline following the September 10 attack, most of these shipments will transit through the Strait of Hormuz instead. The move aims to alleviate price pressures caused by the current supply constraints. Source: Bloomberg / Writer: Samuel

1mo