Saudi Aramco has recommenced crude oil loadings at Ras Tanura, the largest oil terminal globally, following a nearly four-month suspension due to the Strait of Hormuz situation. Shipping records indicate that two VLCCs, under Saudi control, are currently loading at the Gulf facility, each capable of transporting approximately 2 million barrels of oil. Saudi oil exports had dropped to about 4 million barrels per day, down from over 7 million in February. This restart is likely to increase supply pressure as Gulf nations expedite their cargo deliveries back to the market.
