Business & Finance
Saudi Arabia Is Ramping Up Oil Exports as Gulf Ports Restart
Key Points
Saudi Arabia Is Ramping Up Oil Exports as Gulf Ports Restart Saudi Arabia is boosting crude shipments, opening up its Persian Gulf ports that were shuttered by the Iran war while also increasing loadings at Red Sea outlets that it has used to bypass the Strait of Hormuz. Two very large crude carriers that moored Thursday are now loading at single-point moorings that form part of the Ras Tanura port on the Persian Gulf, ship-tracking data compiled by Bloomberg show. They’re the first tankers...
Saudi Arabia Is Ramping Up Oil Exports as Gulf Ports Restart
Saudi Arabia is boosting crude shipments, opening up its Persian Gulf ports that were shuttered by the Iran war while also increasing loadings at Red Sea outlets that it has used to bypass the Strait of Hormuz.
Two very large crude carriers that moored Thursday are now loading at single-point moorings that form part of the Ras Tanura port on the Persian Gulf, ship-tracking data compiled by Bloomberg show. They’re the first tankers to use the terminal since early March, when Riyadh was forced to divert crude to the Red Sea through a 746-mile (1,200-kilometer) pipeline across the country.