November 17, 2022 13:34 GMT
Tanker Tracking Shows Saudi/OPEC Crude Export Drop
Saudi oil exports are falling in November based on vessel tracking companies.
- Saudi shipments were down by about 430,000 bpd, or roughly 6%, by mid-November compared with the previous month, according to Kpler.
- A greater drop of 676,000 bpd was recorded by Vortexa.
- An earlier report from tanker tracker Petro Logistics said OPEC exports in general were tumbling and are down “very significantly in the first half of November, by more than 1 million barrels a day,” which they said indicated that recent to OPEC cuts were underway.
- Iraq showed a drop of 308,000 bpd, or about 9%, in shipments in the first two weeks of November and Kuwait’s flows appeared broadly flat, but exports from the United Arab Emirates rose by 379,000 bpd, or roughly 12%, according to Kpler.