Saudi Arabia’s oil demand has been running at record levels in early 2023, driven by strong economic growth. With refining runs curtailed amid deeper Opec+ production cuts, this has resulted in the kingdom increasingly turning to international markets to help fuel its domestic requirements.

With much of these imports coming from Russia, the practice has come under the spotlight. Figures from data intelligence firm Kpler have shown a sharp increase in imports from Russia this year, primarily of diesel/gasoil and fuel oil (MEES, 14 April). (CONTINUED - 793 WORDS)