Saudi Arabia has shipped about 7mln barrels a day this month, its highest since 2023, while oil exports from the UAE are set to hit a record 3.5mln BPD in February, according to FT citing Kpler
Newsquawk Staff ·
Saudi Arabia has shipped about 7mln barrels a day this month, its highest since 2023, while oil exports from the UAE are set to hit a record 3.5mln BPD in February, according to FT citing Kpler.
What it means
Saudi Arabia's oil shipments reaching 7 million barrels per day this month indicate strengthened supply, which may pressure prices as it marks the highest output since 2023. Additionally, the UAE's projected record exports of 3.5 million BPD suggest a robust demand which could impact regional pricing dynamics. Overall, these figures may signal a shift in market balance, influencing both WTI prices and broader commodity flows.
Sources
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
- CRUDE WRAP: WTI (Z6) SETTLES USD 1.86 LOWER AT 99.90/BBL; BRENT (F7) SETTLES USD 1.33 LOWER AT 109.41/BBL
- Russian refineries’ crude processing up 25% since drone attacks stopped in mid-October, according to reports, citing sources
- US President Trump says believes I will visit tanker in Texas with Venezuela oil; thinks Secretary of State Rubio will be with him; we are going to accept 1mln bbls of Venezuelan oil
- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects
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