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Saudi Arabia has increased crude exports through the Persian Gulf and Strait of Hormuz as it works around disruptions to its East-West pipeline and Red Sea export route following Houthi attacks. Saudi crude exports have recovered to more than 4 million barrels per day so far in September, while Saudi Aramco has sold approximately 60 million barrels of crude from Ras Tanura for September and October loading using ship-to-ship transfers near Sohar, Oman. Saudi crude flows through Hormuz have risen to approximately 2.9 million barrels per day, compared with roughly 700,000 bpd in August. The partial recovery in Saudi supply contributed to Brent crude briefly falling below $100 per barrel on September 21.

Vessels trickle through Hormuz as Saudi exports recover

Saudi Arabia has increased crude exports through the Persian Gulf and Strait of Hormuz as it works around disruptions to its East-West pipeline and Red Sea export route following Houthi attacks. Saudi crude exports have recovered to more than 4 million barrels per day so far in September, while Saudi Aramco has sold approximately 60 million barrels of crude from Ras Tanura for September and October loading using ship-to-ship transfers near Sohar, Oman. Saudi crude flows through Hormuz have risen to approximately 2.9 million barrels per day, compared with roughly 700,000 bpd in August. The partial recovery in Saudi supply contributed to Brent crude briefly falling below $100 per barrel on September 21.

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