SEATTLE (Oil Monster): Saudi Arabia's crude oil exports dropped for the third straight month in May 2026, reaching their lowest monthly level, according to the latest figures released by the Joint Organizations Data Initiative (JODI). The decline in exports is mainly due to regional tensions and shipping disruptions, it said.
According to data, Saudi Arabia exported 3.434 million barrels per day (bpd) of crude oil in May, down from 3.986 million bpd in April. Although the country slightly increased its oil production to 6.56 million bpd during the month, a larger share of crude was used for domestic refining and power generation.
The latest export decline comes as security concerns continue to affect key maritime routes in the Middle East. Rising geopolitical tensions have increased uncertainty for oil tankers operating in the Red Sea and nearby waters. As per industry reports, several oil tankers altered their planned routes due to heightened security risks.
The Bab al-Mandeb Strait, connecting the Red Sea and the Gulf of Aden, remains under close watch. Analysts note that prolonged shipping constraints may force exporters to use longer trade routes. This, in turn, may significantly increase transportation costs and extend delivery times.
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