2023-06-16 19:18:04
European demand for Saudi oil
The analyst wrote that one of the possible explanations for the increase in the number of tankers in the region may be the high demand for Saudi crude in Europe, ruling out that infrastructure problems are a reason for this.
In a parallel context, other ships are still arriving at the Ain Sukhna oil port on the Red Sea in Egypt and unloading shipments as expected, or with a slight delay.
Ain Sukhna is the starting point for the SUMED pipeline, which runs to the crude oil storage and loading terminal at Sidi Kerir on Egypt’s Mediterranean coast. It should be noted that the facilities are partially owned by several Middle Eastern oil-producing countries, including Saudi Arabia, the largest user of the system.
Eight of the 10 ships anchored off Ain Sukhna are owned by Saudi Arabia, according to ship-tracking data monitored by Bloomberg.
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