Saudi Oil Exports Surge Through Gulf as Pipeline Shutdown Fades

Saudi Arabia has increased its oil loadings from inside the Persian Gulf over the weekend, according to data from the European Union's Sentinel 2 satellite. The number of oil supertankers at the nation's export installations jumped to 14 million barrels, the highest since at least June.

This is a clear sign that Saudi Arabia has shifted its exports back toward the Strait of Hormuz following the shutdown of a key cross-country pipeline. The increased loadings indicate that the kingdom is trying to make up for lost time and get oil exports flowing again.