Saudi oil exports to Europe increased steadily in 2022, and their highest levels were recorded in two years at 777 thousand barrels per day in August, according to KPLER and S& P Global analysis to track ships.
The analysis indicated that the average oil flow amounted to 600 thousand barrels per day so far in 2022, which is the highest level since 2019, indicating that Saudi crude oil is usually done to Europe across two roads.
The first is directly on a tanker from the main export stations in the Kingdom in Ras Tanura and Yanbu, and the second from Sidi Karir in Egypt through the “Somid” pipeline.
According to the analysis, the Netherlands, Poland, Spain, France and Italy were the first five destinations for Saudi oil in Europe this year, all of which are regular buyers of Russian crude. It also bought Croatia, Germany, Greece, Lithuania, Turkey and the United Kingdom of the Saudi crude this year.
While the European market still represents about the ten supply of Saudi crude only, but it is likely to be a greater outlet in the year 2023 for the Kingdom, in which the Minister of Energy Prince Abdulaziz bin Salman indicated that the largest source of crude oil in the world is looking forward to supplying to Europe More production, and “we are involved with many governments, such as Germany, Poland, Czech, Croatia, Romania and others. ”
Source: Spglobal.
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