Saudi Arabia's stands ready to step in and replace any oil supplies that may be disrupted because of Y2K computer problems. " Saudi Arabia's unused oil production capacity is reportedly about three million bpd.
Related News
12 Jun 2026
Lost Gulf Oil Since Start of Iran War is Less Than Previously Thought
Since the start of the Iran war and Tehran's announcement that the Strait of Hormuz was "closed", the market has grappled…
12 Jun 2026
Shipping Industry Leaders Condemn Recent Attacks on Seafarers
BIMCO, the International Chamber of Shipping (ICS), INTERCARGO and INTERTANKO unanimously condemns recent attacks on seafarers…
12 Jun 2026
Nereida Energy Raises Over $3M to Expand Maritime Battery Tech Business
Norwegian maritime technology company Nereida Energy has raised $3.3 million (NOK 32 million) through a private placement…
11 Jun 2026
From Oil Importer to Export Leader: US Tops Global Oil Shipments
The United States has become the world's largest oil exporter, upending a decades-old order long dominated by Saudi Arabia and Russia…