Saudi Arabia, Iraq increase oil supplies to Europe by almost 90%

Saudi Arabia and Iraq increased oil exports to Europe, Bloomberg reports with a reference to the tracking data of sea vessels.

According to the agency, the total flow from the Middle East in July reached 2.2 mln barrels per day, which is almost 90% more than in January 2022.

Saudi Arabia sends oil tankers to Egypt, where oil is pumped into the Sumed pipeline, which connects the Ain Sukhna terminal in the Red Sea with the port of Sidi Kirayr in the Mediterranean Sea. There, the oil is again loaded onto tankers and sent to buyers from Europe.