Saudi Arabia Pivots to Spot Oil Sales After Key Pipeline Goes Offline
10 Articles
10 Articles
Saudi Arabia is offering Asian buyers more oil to load via ship-to-ship transfers at the Omani port of Sohar, Reuters reported on Wednesday, citing industry sources. The move comes as Saudi Arabia responds to drone attacks that damaged its key Red Sea pipeline.
Reformatorisch Dagblad
Saudi Arabia is stepping up the direct sale of crude oil located just outside the Strait of Hormuz. The move follows the closure of the kingdom's major east-west pipeline after a drone attack.
Saudi Arabia Pivots to Spot Oil Sales After Key Pipeline Goes Offline
So far this week, Saudi Arabia has sold as many as 20 million barrels of crude oil in the spot market to be picked up from just outside the Strait of Hormuz, after the Kingdom was forced to shut down the key onshore pipeline that helps it bypass the chokepoint, unnamed traders with knowledge of the matter told Bloomberg on Wednesday. Chinese refiners, including state-held giants and independent refiners, as well as crude processors in other East…
Turning off tracking systems on oil tankers is a new strategy for Persian Gulf producers to prevent their positions from reaching regional radars as they increase oil supply outside the Strait of Hormuz.
Saudi Arabia is intensifying immediate crude sales from outside the Strait of Hormuz, following the closure of a pipeline east-west in the Kingdom, which stopped flows across the country to its Red Sea coast. Saudi Aramco sold about 20 million barrels of Asian refining refineries this week, which can be loaded during the current and next month from an area located just outside the Strait of Horms, according to traders familiar with [...] the Sau…
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