Supertankers to United States sent by Saudi
Saudi Arabia, one of the world’s top crude exporter making on its promise. Saudi Arabia promised to overflow the earth. It is true even when crude oil demands are drastically falling due to the COVID pandemic. There is an increase in Supertankers to the United States shipping oil. Tanker tracking data collected by Bloomberg reported on Wednesday.
Last month, Saudi Arabia announced to flood the global market with crude oil. The oil export to the United States hit an all-time high of 515,000 barrels per day (BPD). Bloomberg reports this according to data collected by them.
Until now, at least seven Supertankers to the United States are currently traveling to the United States gulf coast. All the Supertankers hired from Bahri. Bahri is a Saudi state-managed shipping firm.
When major oil producers are trying to conclude the production cut, Saudi Arabia is not ready to change tactics. Oil Producers include both OPEC and OPEC+ nations. Supertankers to the United States already scheduled weeks ago. There would be no change in Saudi’s strategies.
Points to know:
- Analysts feel that crude oil demand will reduce in April throughout the world. There could occur 30% or 30 million barrels per day.
- Saudi Arabia used to export around 7 million BPD. However, now exporting more than 9 million BPD.
- One Supertanker can hold 2 million barrels of oil and petroleum products.