Saudi Energy Ministry Denies Tanker Purchase

The Saudi Ministry of Energy stated that the Kingdom has not purchased 25 oil tankers and denied any link between the rising costs of Iraqi oil transportation and these rumors. It explained that the sharp increase in shipping costs is due to factors such as military escalation and Iranian attacks on ships, which have led to increased shipping risks and higher insurance costs, as well as a decline in the number of tankers operating in the region. The ministry indicated that the current circumstances are responsible for the rise in costs and not the purchase of new oil tankers, emphasizing that the Kingdom's commercial policies are based on its interests and needs.

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