Adnoc has increased supplies of seaborne crude oil and condensate to the 837,000 b/d Ruwais refining complex to the highest level since August 2025. Tanker supplies averaged 193,000 b/d last month and are in excess of 200,000 b/d over the first half of July, Kpler data shows.
Tanker supplies are now running at the highest level since Adnoc opted to switch out offshore grades with its flagship Murban crude from last August in order to support Murban export prices (MEES, 6 June 2025). As Murban is delivered via pipeline, tanker deliveries plummeted from around 300,000 b/d to just 41,000 b/d in Q4 (see chart). (CONTINUED - 296 WORDS)
