Daily Energy Report
Saudi exports from Red Sea, Global oil inventories up, Qatar LNG deals, Trump EV/emissions rollback, Tanker rates tumble, New Mideast refineries, China oil use, EU gas dependence, and more
Chart of the Day: Saudi Crude Exports from Red Sea Ports Are at a Record High in 2024
Summary
Saudi crude oil exports from ports on the Red Sea reached a record high in 2024, as shown in Figure (1) above. The percentages reflect the share of exports from Red Sea ports in total crude exports. The share has doubled in 2024 relative to that of 2021.