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Saudi Aramco bypasses Strait of Hormuz with 60 million barrels of oil via Oman
Saudi Aramco has significantly increased its crude oil exports to bypass regional disruptions. In September, the company sold approximately 60 million barrels of crude oil via the Ras Tanura port. These shipments are being transported by tanker to Oman’s Sohar port, located outside the Strait of Hormuz, where they undergo ship-to-ship transfers to reach international buyers.
This strategy follows disruptions caused by Houthi attacks on the East-West pipeline, which slowed exports from Yanbu in the Red Sea. The use of Sohar and the UAE’s Port of Fujairah as strategic hubs allows Saudi Arabia to maintain export flows despite the blockade of the Strait of Hormuz and control of the Bab al-Mandeb strait.
Market sources indicate that deliveries are also planned for October. Major destinations for these cargoes include refineries in China and South Korea, with additional volumes expected to reach India and Japan. The news of increased supply and the potential restoration of half the East-West pipeline capacity has contributed to a decline in global oil futures, with prices dropping by more than $1 per barrel.
Entities
Oman · Ras Tanura · Saudi Arabia · Saudi Aramco · Sohar Port
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Spot oil cargoes are transferred from Ras Tanura to Oman’s Sohar port via tanker for ship-to-ship transfers to bypass the Strait of Hormuz. www.insider.gr · www.newmoney.gr
- [● 2 SOURCES] Saudi Arabia has planned crude oil deliveries for October using the same route. www.insider.gr · www.newmoney.gr
- [● 2 SOURCES] Oil futures contracts decreased by more than $1 per barrel following reports of increased exports. www.insider.gr · www.newmoney.gr
- [● 2 SOURCES] Major buyers of the crude include refineries in China, South Korea, India, and Japan. www.insider.gr · www.newmoney.gr
- [● 2 SOURCES] Houthi attacks on the East-West pipeline in the Red Sea have slowed exports from Yanbu. www.insider.gr · www.newmoney.gr
- [● 2 SOURCES] The recovery of Saudi oil exports from the Gulf region has helped lower international oil prices. www.insider.gr · www.newmoney.gr
- [○ 1 SOURCE] Saudi Arabia is expected to restore approximately half of the East-West pipeline capacity in the coming days. www.newmoney.gr
- [● 2 SOURCES] Saudi Aramco sold approximately 60 million barrels of crude oil via the Ras Tanura port in September. www.insider.gr · www.newmoney.gr