3 Days
Source:
البلاد
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Saudi Aramco restarts Ras Tanura oil exports
Saudi Aramco has resumed loading oil from Ras Tanura Port after a stoppage of approximately four months, indicating that Gulf producers continue their efforts to boost exports despite the Hormuz Strait attacks. Data shows that giant tankers have been loaded with oil from the world's largest oil port, while Saudi exports have declined to around four million barrels per day currently, compared to more than seven million barrels before the conflict. This comes amid increasing global supplies due to Iran's resumed exports of its products and higher shipments through the strait, despite an attack on a ship yesterday, Thursday, which US and Iranian officials confirmed involved gunfire, highlighting tensions over the security of oil supplies in the region. Oil prices fell by more than a dollar per barrel following the news, as the market experiences volatility amid the ramp-up of production by many producers.
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