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Saudi Seaborne Flows Highlight Cut Commitment

OIL

Saudi crude exports for the first 24 days of August are averaging at the lowest level since June 2020 according to Kpler figures via HFI Research as its commitments to cuts shows clearly in vessel tracking data.

  • At ~5.3 million b/d, Saudis will have reduced crude exports by ~1 million b/d since July. Exports for the upcoming week are showing a rebound, so final figures could be closer to 5.6 to 5.8 million b/d.

source: Kpler data via HFI Research

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