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BREAKING
IOF Northern Command chief Maj.-Gen. Uri Gordin: We are upping the pressure and the pace of attacks, and we will continue the attack in the southern Syrian region
IOF Northern Command chief Maj.-Gen. Uri Gordin: We are operating decisively in the Sweida region and attacking Syrian regime targets
Sheikh Youssef al-Jarbou: The complete integration of Sweida into the Syrian state and the affirmation of the full sovereignty of the Syrian state
Sheikh Youssef al-Jarbou: Respect the sanctity of homes and the lives of civilians and not harm any home or private property within the city
Sheikh Youssef Al-Jarbou: Hiring competent police officers and personnel from the Sweida Governorate to manage the security file in the governorate
Sheikh Youssef al-Jarbou: Deploying internal security and police checkpoints from the state and police personnel from the Sweida Governorate in the city of Sweida
Sheikh Youssef al-Jarbou: Forming a monitoring committee composed of the Syrian state and honorable [Druze] sheikhs to oversee the implementation of the ceasefire
Sheikh Youssef al-Jarbou: A complete halt to all military operations immediately and a commitment by all parties to stop the military escalation
Statement of the Druze Community in Syria regarding the ceasefire agreement
Source in the Syrian Ministry of Interior told SANA: A ceasefire agreement has been reached in Sweida, and security checkpoints have been established in the city

US imports of Saudi oil set to drop

  • By Al Mayadeen Net
  • Source: Bloomberg
  • 19 Feb 2022 13:16
  • 1 Shares
2 Min Read

Saudi crude imports to the United States totaled 309,000 barrels per day in March, the lowest amount seasonally since 1987, according to Energy Information Administration.

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  • Shipments from the kingdom are expected to dip to around 400,000 barrels per day in February and March.
    Shipments from the kingdom are expected to dip to around 400,000 barrels per day in February and March.

Saudi Arabian oil imports to the United States are expected to drop to their lowest level since October, as high prices and refinery maintenance dissuade purchasers, according to Bloomberg.

Shipments from the kingdom are expected to dip to around 400,000 barrels per day in February and March, down from an average of 500,000 barrels per day in the previous three months, energy intelligence firm Kpler reported.

The decline occurs as the White House works to rein in spiraling inflation. According to a release, US President Joe Biden discussed global energy with Saudi King Salman bin Abdulaziz Al-Saud; So far, the kingdom has committed to its objective of increasing output gradually. Oil prices have already risen past $90 per barrel due to continuous geopolitical concerns in Eastern Europe, adding to inflationary pressures for top consumers such as the United States as pump prices reach new highs.

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Read more: Oil Prices on the Rise after OPEC+ Refused a US Call to Boost Production
 

The Strategic Petroleum Reserve has placed around 40 million barrels of high-sulfur oil that can substitute Saudi crudes, limiting demand for the kingdom's oil from American purchasers. Oil price spikes in the Middle East have also turned off some US customers, allowing for a greater volume to go east, according to traders. Saudi Arabia's exports often flow to Asian markets in excess of 60%.

On his account, Matt Smith, an oil analyst at Kpler, said: “Saudi is focused on keeping Asian clients happy, with volumes boosted so far this month to eastern Asia and China in particular.”

“More barrels heading east has been the result of Saudi OSPs (Official Selling Price) to the U.S., which were hiked in January and March -- and kept flat in February, while they were cut to Asia,” he stressed.

It seems that the US is suffering from an economic crisis that is unprecedented in its scale, affecting many vital sectors and forcing more US citizens to plunge into poverty.

Read More: The US Is Running Out of Money, Literally (Part I)
 
  • Saudi Arabia
  • US
  • Oil Production
  • US Oil Prices
  • Asia

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