Saudi exports hit 4.974m bpd

Saudi Arabia’s crude exports fell to 4.974 million barrels per day in March, official data released through the Joint Organizations Data Initiative showed on May 20. The figure was the lowest in JODI records going back to January 2002, according to Reuters reports carried by Baird Maritime and Zawya. (zawya.com) The March drop was accompanied by a sharp fall in Saudi output. JODI data showed production at 6.967 million bpd, down from 10.882 million bpd in February, while refinery crude throughput fell to 2.266 million bpd from 3.012 million bpd. (adportsgroup.com) Direct crude burning rose by 82,000 bpd to 330,000 bpd. ### Why does the March number stand out so much? JODI said the 4.974 million bpd export figure was the lowest monthly Saudi crude shipment level in the dataset that starts in January 2002. Reuters, citing the JODI release, also reported that Saudi production in March was the lowest on record in that series. (zawya.com) The February comparison was also unusually steep. Saudi exports had been 7.276 million bpd in February, meaning March shipments fell by more than 2.3 million bpd in one month, according to the same data. (zawya.com) ### What else was moving around Gulf oil and shipping at the same time? The Indian Express reported on May 21 that Western governments had begun easing some pressure on Russian oil flows as energy security concerns intensified. Its account linked lower Saudi flows, sanctions flexibility for Russian cargoes and Red Sea insecurity to a broader reshaping of oil politics in the region. (zawya.com) The same report said the United Arab Emirates viewed attacks on Red Sea shipping as “existential,” while Saudi Arabia faced different trade-offs because of its contacts with the Houthis. (energynow.com) That interpretation was attributed by the newspaper to analysts and formed part of its explanation for the UAE’s split from OPEC. ### How does Red Sea risk show up in actual transport decisions? AD Ports Group said on May 19 that it had started cruise services at Sharm El Sheikh, Hurghada and Safaga in Egypt. The company also said it was facilitating ferry services between Safaga and NEOM to support the movement of Hajj workers between Egypt and Saudi Arabia. (indianexpress.com) Sharm El Sheikh Cruise Port also received Aroya, which AD Ports described as the largest mega cruise ship ever to dock directly at the port. The company said the new services were intended to strengthen cruise tourism and maritime connectivity across the Red Sea. (indianexpress.com) ### Does the export slump by itself explain policy changes? The March export data does not by itself explain later sanctions or alliance decisions, and the timing matters: the JODI figures cover March, while the related sanctions and shipping policy shifts were reported in May. (adportsgroup.com) But the lower Saudi supply number adds to a tighter regional supply picture described by Reuters and other outlets. The Indian Express argued that lower Saudi flows, renewed room for Russian cargoes and persistent Red Sea insecurity together help explain why governments became more cautious about measures that could further restrict supply. (adportsgroup.com) That conclusion was the newspaper’s analysis, not a formal Saudi statement. ### What should readers watch next? JODI’s next monthly oil data release is scheduled for June 22, 2026, according to its publication calendar. That update will show whether Saudi crude exports and production recovered in April after the March slump. (zawya.com) AD Ports, meanwhile, said its new Egyptian cruise and ferry operations were already under way as of May 19. The Safaga-NEOM link and the three Egyptian cruise terminals are the named services to watch for further operating updates. (adportsgroup.com) (jodidata.org) (indianexpress.com)