The Kingdom Has Options

Oct 25th, 2024:Saudi Arabia is using alternative export outlets Saudi Arabia is the dominant player in the OPEC cartel. It has the highest export quota and the most spare capacity. That is why pundits always look at the Kingdon to try to determine where OPEC policy might be heading. The Saudi’s play their cards close to their vest, so it is difficult, if not impossible, to gauge their next steps before a decision is taken. The oil markets are in the midst of rising geopolitical tension, face a very close U.S. election and have been dealing with stagnating oil demand in China. On top of that, Saudi oil flows are being directly impacted by the Houthi attacks on commercial shipping. Traditionally, we look at the impact of these events on global supply – demand dynamics, but in this week’s Tanker Opinion, we decided to zero-in on just Saudi Arabia. Please fill in below form to continue read.