11 Hrs
Source:
الاقتصادية
Aramco's Strait of Hormuz exports forecasted at 1.5M bpd
Expectations of Saudi Aramco's oil exports passing through the Strait of Hormuz during September and October are between one million and 1.5 million barrels per day, to compensate for the decline in supplies via the Yanbu port following an attack on the East-West pipeline. This increase highlights the importance of these exports in meeting global demand, especially in the Asian market, which is the largest consumer of Saudi oil. Despite rising maritime shipping costs, Saudi Arabia has managed to boost its shipments from the Gulf, leading to increased oil supplies to China, South Korea, India, and Japan. The impact of higher transportation costs continues to influence the market. Japan secured its needs until November through alternative transportation methods outside the Strait of Hormuz, while sources expect Aramco's exports to reach 1.5 million barrels per day in the near future.
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