Saudi Arabia's national shipping arm is sending at least six of its newly chartered-in VLCCs to the Gulf of Mexico, signalling the kingdom's intention to bring its oil price war to the US.
Labelled an "armada" by Alphatanker, the analyst said it appears Saudi Arabia is taking aim at US shale oil producers along with its prime target, Russia.
"None of these vessels are likely to have been chartered for storage, rather they are a direct indication that Aramco has buyers lined up for its incremental production," the note read.
