Saudi Arabia denies buying 25 oil tankers after Iraqi claims

The Kingdom of Saudi Arabia has firmly denied purchasing 25 oil tankers, rejecting Iraqi claims that this alleged acquisition contributed to the elevated costs of transporting Iraqi crude. The Saudi Ministry of Energy clarified on Tuesday that the reported transactions did not occur, describing the information as inaccurate. This response followed remarks made by Iraqi Oil Minister Bassem Mohammed Khudair Al Abadi and Ali Nizar Al-Shatari, who purportedly linked the supposed Saudi tanker purchases to the surge in the cost of shipping Iraqi oil.

The Saudi Ministry emphasized that their clarification does not diminish the Kingdom's autonomy in making commercial and investment choices deemed suitable for its needs and interests. The ministry also pointed out that the sharp rise in oil transportation costs was primarily due to military tensions in the region, Iranian attacks on vessels, and disruptions to shipping through the Strait of Hormuz.

These factors increased shipping risks, insurance costs, and reduced the availability of tankers willing to navigate the region, leading to exceptionally high freight rates for Iraqi oil. The Saudi Ministry stressed that attributing the increase in transportation expenses to Saudi Arabia was misleading, as the actual drivers of the rise were the aforementioned regional conditions.