Analyst: Saudi Oil Exports Overestimated, Delayed Vessels Inflate Previous Statistics
On July 3, energy intelligence group reporter Amena Bakr reported that informed sources revealed that Saudi Arabia's crude oil and refined product exports average around 5.8 million barrels per day, rather than the 6.3 million barrels per day reported by some. The higher figures are due to the inclusion of previously delayed shipments. The claim of 'market oversupply' is highly misleading. Traffic through the Strait of Hormuz has not yet returned to normal. Earlier data compiled by Bloomberg showed that over a six-day period ending Wednesday, Saudi Arabia's average daily crude oil shipments were 6.3 million barrels. This shipping volume is roughly in line with the average level expected in 2025, nearly reaching 90% of February's figures.
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