Saudi Crude Exports Dip in July as Ukraine Strikes Russian Oil Infrastructure
Saudi Arabia’s observed crude exports fell by 460,000 b/d to 4.19 mln b/d in July due to shipping threats, while Ukraine launched at least 30 attacks on Russian refineries, tankers, and infrastructure last month.
Saudi Arabia’s observed crude exports edged down to 4.19 million barrels per day in July, a drop of 460,000 b/d from June. Threats to vessel traffic in the region held back shipments, tightening available supply.
Meanwhile, Ukraine’s strikes across Russia’s oil supply chain intensified, hitting large refineries, tankers, and infrastructure at least 30 times during July. The disruptions add another layer of supply-side pressure to global oil markets.
Source: First Squawk