Saudi shipments fall to 4.974m b/d

Saudi Arabia’s crude exports fell to 4.974 million barrels per day in March, the lowest level in Joint Organisations Data Initiative data going back to January 2002, according to official figures reported on May 20. The same JODI release showed Saudi crude production at 6.967 million barrels per day in March, down from 10.882 million barrels per day in February. Reuters, via Baird Maritime and other outlets, said the figures came as the Iran war disrupted Gulf energy flows and pushed oil prices higher. March also brought a drop in Saudi refinery crude throughput to 2.266 million barrels per day from 3.012 million in February, while direct crude burning rose by 82,000 barrels per day to 330,000 barrels per day, the JODI data showed. Monthly export figures are supplied by Riyadh and other OPEC members to JODI, a transparency initiative coordinated by energy organizations including OPEC and the International Energy Agency. (bairdmaritime.com) ### Why did Saudi exports fall so far in March? Saudi Arabia’s March export slump coincided with severe disruption to tanker movements out of the Gulf. Bloomberg reported on April 1 that Iran had effectively prevented tankers from leaving the Persian Gulf, forcing Saudi Arabia to reroute flows to its Red Sea outlets and cutting March shipments sharply. That report, based on tanker tracking, said exports averaged 3.33 million barrels a day during the month before later official JODI data put the March average at 4.974 million barrels a day. (bairdmaritime.com) Yanbu, on Saudi Arabia’s Red Sea coast, became more important as cargoes were redirected westward. Baird Maritime’s republication of the Reuters dispatch identified the Port of Yanbu as a relevant export point as Saudi Arabia adjusted flows during the regional crisis. ### What does the Red Sea disruption change for shipping companies? (bloomberg.com) The Red Sea crisis has already pushed carriers onto longer sailings around southern Africa, raising costs and tying up vessel capacity. Investing.com, in a May 2026 analysis of Israeli liner operator ZIM, said the disruption forced ships onto routes around Africa’s southern cape and added operational and financial pressure. (bairdmaritime.com) Longer voyages matter beyond container shipping because they change how companies think about access to vessels, insurance and delivery schedules. The IEA said in its March oil market report that its monthly assessment tracks trade, refining activity and supply disruptions across the global oil market, underscoring how shipping interruptions feed directly into oil balances. (cnbctv18.com) ### Why is BYD buying more control over its own shipping? BYD has been expanding a self-owned car-carrier fleet to reduce dependence on third-party shippers as tariffs and freight disruption complicate exports. CNBC TV18, citing Bloomberg, reported on May 20 that BYD was enlarging its private fleet to navigate geopolitical risks, lower shipping costs and support global electric-vehicle exports. (iea.org) The BYD Shenzhen, one of the company’s vessels, left Xiamen in late November carrying 1,768 electric vehicles, according to that report. South China Morning Post reported in June 2025 that BYD had taken delivery of two new ships and said its fleet of six vessels could carry 48,600 cars, with two more ships due to add further capacity. (cnbctv18.com) ### Why are governments treating shipping and storage as strategic now? India has been pressing for clearer emergency access to oil stored with foreign partners as regional conflict exposes supply risks. The Indian Express reported on May 20 that the UAE’s exit from OPEC created an opening to renegotiate existing arrangements into an emergency-access framework with unambiguous Indian rights during a crisis. (cnbctv18.com) Reuters reported on May 15 that India and the United Arab Emirates agreed a framework for a strategic defence partnership as the two countries deepened ties during Prime Minister Narendra Modi’s visit. Separate Indian media reports said the discussions also covered strategic petroleum reserves and liquefied petroleum gas arrangements. (indianexpress.com) May 15 is the clearest next marker in that effort because it produced the latest announced India-UAE framework, while Saudi Arabia’s March oil data will be followed in subsequent JODI releases as traders and governments track whether exports recover. (msn.com)