Saudi Oil Sales Set for New Year Surge in Sign of Growing Supply

Crude oil sales from the world’s biggest exporter, Saudi Arabia, are set to surge as 2026 begins, with customers from the US to Asia all set to receive more supply amid growing concerns over an oil glut.

Chinese refiners are poised to receive around 50 million barrels from Saudi Arabia, the de-facto leader of the Organization of the Petroleum Exporting Countries. They will load next month and are equivalent to some 1.6 million barrels a day — and it’ll be the highest allocated amount since August, according to data compiled by Bloomberg. Those barrels will likely arrive in late January or in February.