Saudi Arabia Offers Red Sea Route to Oil Buyers Amid Hormuz Tensions

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Hormuz Crisis: Saudi Arabia Offers Red Sea Option to Oil Buyers

The Saudis have a 5 million barrel-a-day pipeline that runs across the country to the Red Sea, although export capacity at Yanbu may be smaller than that.

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Moneycontrol•16-03-2026, 12:13

Hormuz Crisis: Saudi Arabia Offers Red Sea Option to Oil Buyers

•Saudi Arabia is offering long-term oil customers the option to receive April allocations via the Red Sea port of Yanbu.
•This alternative comes as the Strait of Hormuz crisis persists, causing potential disruptions to Persian Gulf shipments.
•Yanbu deliveries are limited by pipeline capacity, providing only a portion of monthly supply, primarily Arab Light grade.
•Sinopec is cutting run rates by 10%, and Japan is releasing national reserves due to supply uncertainty.
•European refiners also report receiving less contractual volumes of crude from Saudi Aramco.

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