Saudi Arabia Is Profiting From Its Record-Breaking Diesel Trade

Saudi Arabia is making money from diesel trading after the EU embargo on Russian fuels, as the world’s top crude exporter is now importing record volumes of cheap diesel from Russia and exporting record levels of its own diesel to the higher-priced Asian market in the Singapore hub, trading and ship-tracking sources have told Reuters. Earlier this year, Russia started exporting diesel to Saudi Arabia—its ally in the OPEC+ group—after Moscow’s key fuel export outlet, the EU, enacted an embargo on seaborne imports…