VLCC News & Analysis
2 articles
Market Mood
Saudi Aramco (2222) Resumes Oil Loadings After Four-Month Halt
Saudi Aramco (2222) resumed crude loadings at its Ras Tanura terminal after a near four-month suspension. Two Very Large Crude Carriers (VLCCs) were observed loading crude at the port, which previously exported over 5 million barrels per day (bpd). Recent conflict saw Saudi exports drop to approximately 4 million bpd from over 7 million bpd in February. The resumption comes as global oil prices fell more than $1 per barrel amid rising supply pressures and intensified competition among producers.
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U.S. Crude Oil Exports Reach Record 5.2 Million BPD Amid Iran War
U.S. crude oil exports surged to a record 5.2 million barrels per day (bpd) in April, representing over a 30% increase from 3.9 million bpd in February. The Port of Corpus Christi became the busiest oil export terminal, handling more than 240 vessels in March, up from a typical 200. Asian buyers accounted for half of U.S. exports in April as they shifted from Middle Eastern imports due to blockades. Tankers, particularly very large crude carriers (VLCCs), have doubled in volume, with the port's capacity maxing out at approximately 2.6 million bpd due to pipeline constraints.
Read More: U.S. Crude Oil Exports Reach Record 5.2 Million BPD Amid Iran War