Saudi Arabia’s oil exports jump 19.5% in May despite Hormuz tensions

Saudi Arabia’s official statistics show that crude oil exports rose 19.5% in May, raising the sector’s share of total exports from 65.7% to 75.6%. Non‑oil exports fell 26.1% and overall imports dropped 19.5% over the same period.

The increase was achieved by routing oil through the Petroline pipeline to the Red Sea port of Yanbu, allowing shipments to avoid the war‑affected Strait of Hormuz. China remained the top destination, receiving 12.3% of Saudi oil, followed by South Korea (9.6%) and the United Arab Emirates (7.5%). China also led as a supplier to Saudi Arabia, accounting for 22% of its imports, with the United States (10.7%) and Egypt (8.4%) trailing.