Saudi Oil Exports Surge to Three-Year High Amid Iran Tensions
Processing facilities in the Khurais oil field in Khurais, Saudi Arabia.
Photographer: Maya Sidiqqui/BloombergSaudi Arabia is on course to ship the most oil from its ports in almost three years this month, bringing supply to the global market at a time when crude traders are monitoring US-Iran tensions.
The nation’s crude shipments jumped to 7.3 million barrels a day in the first 24 days of February, the highest since April 2023, tanker tracking data compiled by Bloomberg show. If that continues for the rest of the month, that would constitute an increase of just over 400,000 barrels a day compared with January.