Saudi Arabia Ships 34 Million Barrels Through Hormuz Despite Thin Tanker Traffic

Saudi Arabia has shipped roughly 34 million barrels of crude through the Strait of Hormuz since the June 17 ceasefire, according to Kpler cargo-tracking data, even though only about 27 commercial vessels per day have been transiting the waterway with active AIS signals, according to IMF PortWatch. Commercial traffic remains at roughly one-third of its pre-war level of about 84 daily vessel transits, even as crude exports continue to recover. On July 4, only 25 vessels crossed the strait with active AIS transmissions, while Bloomberg reported that…