In the following weeks, Russia accelerated its exports of diesel to Saudi Arabia by both direct shipments and ship-to-ship (STS) transfers near the Greek port of Kalamata. In May, Saudi Arabia is expected to import up to 3.7 million barrels of diesel from Russia, an all-time high, Reuters reported, citing trading sources and data from Refinitiv and Kpler. Saudi Arabia is snapping up Russian diesel at knockdown prices and sending its own diesel to Europe, according to data compiled by Bloomberg. According to Kpler data, cited by Bloomberg, Saudi Arabia was the world’s second-largest exporter of gasoil and diesel in April. Of the total record Saudi exports of diesel last month, around 35% ended up in the EU and the UK.

Source: The North Africa Journal May 29, 2023 14:09 UTC