Saudi Aramco Offers Oman-Based Oil Shipments Amid Hormuz Route Shift

Saudi Arabia's state oil company, Saudi Aramco, is offering to sell oil from off the coast of Oman, a sign that the kingdom may be shifting its export strategy through the Strait of Hormuz.

The move comes as the United Arab Emirates has also been increasing its oil shipments through the same route. According to people familiar with the matter, Saudi Aramco is offering cargoes on a ship-to-ship basis from locations including Sohar in the Gulf of Oman.

The barrels in question are likely to have originated from inside the Persian Gulf, as they are classified as Arab Medium and Arab Heavy oil. This development may be seen as a response by Saudi Arabia to maintain its market share amidst increasing competition for export routes.