Crude oil exports from the Arabian Gulf rose by 9 million barrels week-on-week, to reach 121 million barrels, in the seven days ending May 28, according to Thomson Reuters’ Lead Oil Analyst for the Middle East and Africa, Giorgos Beleris.
In a research note sent to Rigzone, Beleris outlined that Iran, Iraq and Qatar increased exports during the time period, while others “saw loadings soften.” Iranian crude exports increased by 20 percent week-on-week to 16.29 million barrels. On average, the country has exported more than 2 million barrels per day in May, says Beleris.
Oman saw an 83 percent decline in exports, with loadings totalling 1 million barrels. There is no clear indication for the decline, however “loading challenges may have curbed the export potential,” according to Beleris, who stated that “loadings of the following weeks will provide a clearer image on the status of the exports.”
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