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Saudi Oil Hike Averts Drop in Global Crude Flows: Tanker Tracker

Aug. 3, 2021, 12:43 PM

Saudi Arabia’s boost to oil exports made the difference between global shipments rising and falling last month, a reminder of the nation’s importance to the world’s crude supplies.

The kingdom loaded 6.38 million barrels a day onto ships in July, an increase of almost 640,000 compared with June. That upswing was enough to lift global flows by about 276,000 barrels a day. The second-biggest month-on-month gain was in North Sea flows as the region’s output recovered from a period of heavy maintenance.

It’s important to note that tanker tracking data do not perfectly correlate with production for multiple reasons, and ...

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