Nordic American Tankers Ltd (NYSE: NAT) - News on oil production in Saudi Arabia

August 4, 2022

For Shareholders and Investors,

Saudi Arabia's Crude Oil Production is at levels only seen twice in history. This is good news for tanker transportation demand.



NAT is in a positive phase of development, based on the conclusion of several recent contracts between USD 30,000 a day to USD 60,000 a day. Operating costs for the NAT vessels are about USD 7,500 per day.

Sincerely,

Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd

Nordic American Tankers Ltd, press release