August 18, 2022

Record: Saudi Arabia Doubling Purchases of Cheap Russian Oil

The amount of Russian fuel oil  imported  simply by Saudi Arabia between 04 and June of this 12 months more than doubled compared to a year ago, Reuters reported Friday. “ Data obtained by Reuters through Refinitiv Eikon deliver tracking showed Saudi Arabia imported 647, 000 tonnes (48, 000 barrels for each day) of fuel oil from Russia via Ruskies and Estonian ports within April-June […]#@@#@!!

The amount of Russian fuel oil  imported   by Saudi Arabia between April and June of this year more than doubled compared to last year, Reuters reported Fri.

“ Data obtained by Reuters through Refinitiv Eikon ship tracking showed Saudi Persia imported 647, 000 tonnes (48, 000 barrels for each day) of fuel oil from Russia via Russian and Estonian ports within April-June this year. That was upward from 320, 000 tonnes in the same period last year, ” the news agency reported on July 15.

Describing the significance of the recent sales figures, Reuters wrote:

The increased sales of fuel oil, used in power generation, to Saudi Arabia show the challenge that U. S. Chief executive Joe Biden faces because his administration seeks to isolate Russia and reduce its energy export profits.

While many nations have banned or discouraged purchases from Russia, The far east, India and several African plus Middle Eastern nations have increased imports.

Biden was on Friday visiting Saudi Arabia and was expected to seek an increase in oil supply to global markets from the kingdom to help to lower oil prices that have aggravated inflation worldwide.

The U. S. and other Western-allied nations have scaled back their Russian energy purchases since late February right after Moscow launched its newest war with neighboring Ukraine. India and China possess stepped in to fill this particular trade gap.

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