Saudi Exports Soar Through Strait of Hormuz Amid US-Iran Tensions
Saudi Arabia's crude exports are set to reach their highest level since the US-Iran conflict began in February. The kingdom is expected to export around 5.28 million barrels per day in September, driven by a surge in shipments through the Strait of Hormuz.
The rapid expansion of exports is being fueled by damage to the East-West Pipeline, which connects Saudi Arabia's eastern and western regions, causing the country to shift its supply lines to the Red Sea route. This has led to increased activity at major oil terminals along the Persian Gulf coast.
Saudi Aramco is arranging logistics and transportation itself to deliver crude directly to Asian customers, including Chinese state-owned and independent refiners, as well as oil companies from India, Japan, and South Korea.