Saudi Arabia Restarts Ras Tanura Exports With 2 Crude Carriers as Gulf Ports Reopen
Updated
Updated · Bloomberg · Jun 26
Saudi Arabia Restarts Ras Tanura Exports With 2 Crude Carriers as Gulf Ports Reopen
3 articles · Updated · Bloomberg · Jun 26
Summary
Two very large crude carriers began loading Thursday at Ras Tanura’s single-point moorings, marking Saudi Arabia’s first use of the Persian Gulf terminal since early March.
The restart signals Riyadh is ramping up crude exports after Gulf ports were shut by the Iran war, easing a disruption that had forced shipments away from the Gulf.
Saudi Arabia had redirected oil to Red Sea outlets through a 746-mile pipeline across the kingdom; those loadings are still being increased as exports normalize.
The move reopens a key Gulf export route and reduces Saudi reliance on bypassing the Strait of Hormuz.