Saudi Aramco (2222) Resumes Oil Loadings After Four-Month Halt

AI Summary

Saudi Aramco (2222) resumed crude loadings at its Ras Tanura terminal after a near four-month suspension. Two Very Large Crude Carriers (VLCCs) were observed loading crude at the port, which previously exported over 5 million barrels per day (bpd). Recent conflict saw Saudi exports drop to approximately 4 million bpd from over 7 million bpd in February. The resumption comes as global oil prices fell more than $1 per barrel amid rising supply pressures and intensified competition among producers.