Saudi Arabia Has Revived Half Its Oil Exports Via Hormuz Bypass

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000War With Iran:Crude oil storage tanks at the Juaymah Tank Farm at an oil refinery and oil terminal in Ras Tanura, Saudi Arabia.Saudi Arabia has already ramped up its oil exports to more than half of normal levels despite the disruptions from the Iran war, an early sign of success for the kingdom’s ambitious contingency plan to bypass the Strait of Hormuz. With Hormuz all but closed, Saudi Arabia has been rerouting oil through a 1,200 kilometer (746 mile) pipeline to the western port of Yanbu. At the same time, it’s quickly amassed a huge armada of tankers that have streamed toward the Red Sea to load the oil and are now piling up around the port.