Saudi Ministry Denies Purchasing Oil Tankers Amid Claims of Raising Iraqi Transport Costs
Saudi Arabia's Energy Ministry has denied claims that the kingdom purchased 25 oil tankers, which allegedly drove up the cost of transporting Iraqi crude. The ministry attributed the sharp rise in oil transport costs to several factors, including regional military escalation, officially declared Iranian attacks on vessels, disruptions to shipping through the Strait of Hormuz, and a decline in the number of tankers willing to operate in the region.
The ministry's statement follows comments from Iraqi Oil Minister Bassem al-Abadi, who claimed that Saudi Arabia purchased 25 oil tankers for around $4.5 billion, raising transport costs on Iraq from $26 to $37 per barrel.
The Energy Ministry emphasized that the kingdom has the right to make commercial and investment decisions in line with its needs and interests, and that attributing the rise in Iraqi oil transport costs to Saudi Arabia does not reflect the actual factors behind the increase.