Saudi Arabia Turns to 'Hormuz Shuttle' Measure Amid Oil Supply Crisis
Saudi Arabia's oil supply crisis has taken an unexpected turn as the country resorted to the 'Hormuz shuttle' measure, a tactic previously used by Iran and the UAE to bypass maritime blockades. The method involves turning off vessel identification systems at night, exiting the Strait of Hormuz through Omani waters, and transshipping the oil onto other vessels bound for importing countries.
The move comes after drone attacks heavily damaged two pump stations along Saudi Arabia's East-West pipeline, which is expected to take more than a month to fully restore. Emergency measures are being implemented to secure alternative pipeline routes, but the 'Hormuz shuttle' provides an immediate solution to ease oil supply disruptions.
International crude market experts estimate that Middle Eastern crude moving through these methods reaches up to 9 million barrels per day. This partial easing of concerns over Saudi crude supply disruptions has led to a slight decrease in international oil prices for two consecutive days, according to analysts.