Saudi Arabia Diverts Crude Cargoes Amid Pipeline Disruptions

Saudi Arabia has been forced to offer additional crude oil cargoes to Asian refiners through ship-to-ship transfers off Oman's Sohar port, following a series of drone attacks that damaged its key East-West pipeline.

The damage disrupted a major alternative route for Saudi crude and contributed to a rise in global oil benchmarks this week. According to sources, Saudi Aramco has offered its flagship Arab Light crude, along with Arab Medium and Arab Heavy grades, to term buyers in Asia for loading off Sohar.

The offers suggest that Aramco is seeking to move a larger share of its crude out of the Gulf for onward shipment beyond the strategic waterway. The company has made at least two similar offers of Arab Medium and Arab Heavy to Asian buyers in recent weeks.