Saudi imports of Russian oil

Saudi Arabia, the world’s largest oil exporter, is importing soaring quantities of discounted Russian oil to meet summer cooling demands and free up the kingdom’s crude for export
 

Saudi Arabian fuel oil imports (thousand barrels per day)
     
Russian oil for re-export	Egypt Estonia UAE 	Russia

Non-Russian oil 	Greece Bahrain Netherlands Other

00 Total imports 
00% Russian oil share


JANUARY			58,000 
12 14 32		20.7%

FEBRUARY 		151,000 
11 4 13 35 60 28	18.5%

MARCH			77,000 
12 10 48 7		28.6%

Mar 2022: Imports dip following Russia’s invasion of Ukraine

APRIL			221,000 
23 34 35 47 36 22 24	41.6%

MAY 			197,000 
61 36 45 31 4 20	87.8%

JUNE			251,000 
86 53 64 13 15 20	86.1%


Saudi Aramco: Oil giant has signed contract with Litasco – trading arm of Russia’s Lukoil – to import discounted fuel oil to end of 2022
                                                       

Sources: Financial Times, Kpler, Middle East Economic Survey, Reuters 
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