Saudi Arabia's oil shipments via the Red Sea are on course ‌to hit record highs in March although they are still far below the levels needed to compensate for the drop in flows from the Strait of ...
Top oil exporter Saudi Arabia is increasing shipments from the Red ‌Sea, but the volumes are far from enough to offset the drop from the crisis-hit Strait of Hormuz, shipping data showed.
About 10 million barrels of crude were loaded from the Red Sea’s Al-Muajjiz terminal in the first four days of March, implying a daily pace of roughly 2.5 million barrels, according to Kpler.
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