Key facts
- Saudi Aramco has resumed oil loading at its Ras Tanura export terminal.
- The suspension of loading at Ras Tanura lasted for nearly four months.
- Two Very Large Crude Carriers are currently loading oil at the terminal.
- Another vessel is waiting nearby to load oil.
- Exports were previously diverted to the Red Sea port of Yanbu due to an Iranian blockade of the Strait of Hormuz.
Saudi Aramco has resumed oil loading operations at its Ras Tanura export terminal, a key facility for Saudi Arabian oil exports, after a suspension of nearly four months. Shipping data reported by Reuters and LSEG indicated that two Very Large Crude Carriers (VLCCs) were actively loading crude oil, with an additional vessel waiting in proximity. Each VLCC has the capacity to load approximately 2 million barrels of oil. The halt in operations at Ras Tanura had previously led to the diversion of all Saudi exports to the Red Sea port of Yanbu. This diversion was a consequence of an Iranian blockade of the Strait of Hormuz during the conflict between Iran and the U.S. and Israel, which prevented ships from entering the Gulf. The resumption of exports from Ras Tanura follows an interim deal between the United States and Iran to halt hostilities, leading to increased output and exports from Middle Eastern producers.