Saudi Arabia tanker oil loadings rise to highest level since February

Nine very large crude carriers collected oil cargoes at Saudi Arabia’s Persian Gulf export facilities on Wednesday, marking the highest level of activity at these terminals since hostilities began in the region at the end of February.

Images from the European Union’s Sentinel 2 orbiter showed the nine VLCCs moored at Saudi berths. The vessels have a combined transportation capacity of approximately 18 million barrels. The ships may not depart on the same day, which would spread out the volume over time.

Traders are watching Middle East oil flows closely as signs emerge that shipments from the Persian Gulf are reaching levels similar to those seen before the conflict. A single day of tanker loading activity does not guarantee a sustained increase in Saudi Arabia’s exports. Images from Sunday showed only two tankers moored at similar locations, with a third vessel leaving the moorings.

Satellite image availability varies based on the orbiter’s path and weather conditions. In 96 images from the Sentinel 1 and Sentinel 2 orbiters covering the period since mid-June, the average number of berths in use on any given day is two. Nearly one-third of the images showed all berths empty.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →