Rising Middle East tensions cut Saudi domestic fuel supply, driving increased purchases of Russian fuel oil despite export declines.
Saudi Arabia has increased imports of Russian fuel oil as regional conflicts disrupt domestic oil and gas production, straining power generation during high demand. The shift follows reduced output from Saudi wells due to the Hormuz crisis and soaring temperatures.
Russian fuel oil and vacuum gasoil shipments fell 6% in May to 3.2 million metric tons, pressured by Ukrainian strikes on energy infrastructure. Despite the decline, Saudi demand remains strong, offsetting broader export drops.
The move highlights supply chain adjustments in global energy markets amid geopolitical tensions and infrastructure vulnerabilities.