Surge in Saudi Oil Flows Offset Cut in UAE’s September Exports
- South Korea was the only major buyer to take higher volumes
- Crude heading to the U.S. fell below 250,000 barrels a day
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Saudi Arabia increased oil shipments in September, offsetting lower flows from the United Arab Emirates as the smaller nation started to compensate for earlier over-production, and leaving exports from OPEC’s Middle East producers broadly stable for a third month.
Exports from Saudi Arabia rose by more than 480,000 barrels a day, almost exactly offsetting the drop in shipments from the UAE last month. Kuwait and Iraq increased flows by smaller amounts.