The total volume of oil supplied to Europe from the Middle East since the start of the war in Ukraine has increased by 90% compared to January. Such data is provided by Bloomberg.
In July, the SuMed gas pipeline passing through Egypt carried more than a million barrels of oil per day. Most of these deliveries came from Saudi Arabia. At the same time, about 1.2 million barrels were pumped through the Suez Canal - mainly from Iraq - daily.
In June, the volumes of oil pumped increased and amounted to about 800,000 barrels per day. At the moment, the level of oil production in the Middle East is at record levels.
On July 15, after a meeting between US President Joe Biden and Saudi Crown Prince Mohammed bin Salman, the media reported that Saudi Arabia has pledged to maintain a balance in the global oil market and intends to increase oil production by 50% compared to the figures planned for July and August.
In fact, it turned out that no promises were made. Orientalist and economist Mikhail Krutikhin told The Inisder about the real results of the meeting.