Saudi Arabia to Send More Crude Oil Supertankers to the US

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May 5, 2012

LONDON (Dow Jones)–Saudi Arabia’s state shipping company, Vela, will transport large volumes of oil to the U.S. again this month, repeating a trend that began in March, but prior to that was very unusual, shipbrokers told Dow Jones Newswires Friday.

Vela has chartered at least 10 supertankers, capable of carrying around 20 million barrels of oil, to ship crude to the U.S. this month, though some brokers say it could be as high as 13. This is a large increase from the normal traffic, which experts say amounts to around one tanker every other month.

-By Sarah Kent, Dow Jones Newswires

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