The report, published on Thursday, said that Riyadh imported an average of 174,000 barrels a day of Russian diesel and gasoil in April and has already surpassed that figure this month.
Citing data compiled from analytics firm Kpler, the report said the kingdom has replaced Russia as Europe’s top supplier since February when Europe imposed a ban on Russian fuel and other refined oil products as punishment for the war in Ukraine.
Back in December, the European Union, G7 countries, and Australia also slapped a $60-per-barrel cap on Russian crude to crimp Moscow’s fossil fuel earnings.
Nevertheless, Bloomberg said roughly 35% of Saudi Arabia’s overall exports of diesel and gasoil in April were shipped to the EU countries and the UK, while at the same time, the Russian-origin barrels arrived at the Saudi ports of Ras Tanura and Jizan.
Iman Nasseri, the managing director for the Middle East at consulting firm FGE, said Riyadh’s imports of diesel-like fuels are expected to surge from an average of 31,500 barrels a day in 2022 to about 150,000 barrels a day during the remainder of 2023.
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