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Saudi Arabia Denies Iraqi Claim of Buying 25 Oil Tankers
The energy ministry said regional military escalation and Strait of Hormuz disruptions have pushed shipping and insurance costs to exceptional levels.
- Saudi Arabia's Energy Ministry denied on Tuesday purchasing 25 oil tankers, rejecting claims that such activity drove up Iraqi crude transport costs.
- In remarks published on Facebook, Iraqi Oil Minister Basim Mohammed alleged that Saudi Arabia bought 25 tankers for $4.5 billion, raising transport costs from $26 to $37 per barrel.
- Regional military conflict and disruptions in the Strait of Hormuz pushed shipping costs to "exceptional levels," the ministry reported, rejecting claims that Saudi activity drove the increase.
- This rare public disagreement between two major Organization of the Petroleum Exporting Countries members illustrates regional tensions, as the kingdom asserted its right to make commercial decisions.
- Attacks continue to disrupt shipping through the Strait of Hormuz, forcing Gulf producers to use the Red Sea as an alternative route, with Iraq among the countries most affected by the closure.
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Shafaq News..Saudi Arabia denies tanker purchases raised Iraqi oil transport costs
Shafaq News- Riyadh/ Baghdad Saudi Arabia's Energy Ministry denied on Tuesday that the kingdom had purchased 25 oil tankers, rejecting claims that such a purchase drove up the cost of transporting Ir
·Iraq
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Saudi Arabia Denies Iraqi Claim of Buying 25 Oil Tankers
Saudi Arabia on Tuesday denied an Iraqi claim that it had bought 25 oil tankers, saying the information was inaccurate, after Iraq linked the alleged purchases to a sharp increase in the cost of shipping its crude.Iraqi Oil Minister Basim Mohammed…
Coverage Details
Total News Sources12
Leaning Left1Leaning Right2Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
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