Caribbean Basin Crude Oil Exports Jump 45%

"Caribbean Basin have year-to-date increased by 234 million barrels year-on-year according to data from Signal Ocean. This is equal to an additional 880k barrels per day, and a 45% jump compared to 2025,“ says Niels Rasmussen, Chief Shipping Analyst at BIMCO.

Adjusting for an increase in barrels transhipped via the Bahamas, we estimate that exports from the Caribbean Basin so far have added 210 million new crude oil and heavy product barrels. The increase equals 790k barrels per day. This makes the Caribbean Basin the area that has added the largest number of new barrels to the dirty tanker market so far this year.

While exports from the Red Sea area have increased 1.9 million barrels per day (mbpd) year-to-date, the rise is due to rerouting of existing Saudi barrels from the Persian Gulf to the Red Sea. The shift has not added new barrels to the market and in fact, Saudia Arabia’s total exports have so far this year fallen by 1.7 mbpd.

The increase in exports has made the Caribbean Basin the eight largest export area, surpassing the Black Sea &