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Commodities

Saudi Arabia Diverts Crude Oil to Asia Amid Pipeline Disruptions

Guavy AI Editorial Team
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Oil
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Saudi Arabia is diverting more crude oil to Asia through ship-to-ship transfers after drone attacks damaged its East-West pipeline, which carries oil to the Red Sea port of Yanbu.

The damage, caused by drone strikes on September 11, has disrupted exports through the Red Sea port, prompting Saudi Aramco to offer Arab Light, Arab Medium, and Arab Heavy grades to long-term Asian buyers for loading off Sohar, Oman's main port outside the Strait of Hormuz.

This move indicates that Saudi Aramco is relocating more crude oil out of the Gulf region to avoid disruptions caused by potential future attacks on shipping through the waterway.

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