Saudi Arabia May Re-route Tankers If US Imposes Crude Import Ban, Sources Say

Saudi Arabia May Re-route Tankers If US Imposes Crude Import Ban, Sources Say
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia, on Oct. 12, 2019. Maxim Shemetov/Reuters
Reuters
Updated:

Saudi Arabia is exploring re-routing millions of barrels of oil onboard tankers sailing to the United States if President Donald Trump decides to block imports of crude from the kingdom, shipping and trade sources say.

Some 40 million barrels of Saudi oil are on their way to the United States and due to arrive in the coming weeks, piling more pressure on markets already struggling to absorb a glut of stocks, according to shipping data and sources.