As Biden visits Riyadh, seeking an increase in oil supply to global markets, data reveals the kingdom imported 647,000 tonnes of fuel from Moscow in past three months. Saudi Arabia, the world’s largest oil exporter, more than doubled its imports of Russian fuel between April-June, to help power stations meet the summer cooling demand and free up the kingdom’s crude for export, Reuters reported on Friday.
With sanctions placed on Russia due to the invasion of Ukraine, its fuel price has been sold at a discounted rate to attract buyers.
Data obtained by Reuters through Refinitiv Eikon ship tracking showed Saudi Arabia imported 647,000 tonnes (48,000 barrels per day) of fuel oil from Russia via Russian and Estonian ports in April-June this year, compared with 320,000 tonnes in the same period in 2021.
Saudi Arabia is not the only country to have taken advantage of the discounted rate, despite the sanctions. In May, China’s crude oil imports soared by 55 percent on the previous year, with shipments equivalent to almost two million barrels per day (bpd), up a quarter from 1.59 bpd in April.
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