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Saudi Arabia boosts crude shipments through Strait of Hormuz
Saudi Arabia is sending more oil through a major sea passage called the Strait of Hormuz.
It had avoided using this route heavily for several months.
The country increased shipments after an attack damaged its East-West pipeline.
That pipeline normally lets oil travel without using the strait.
The extra shipments are going to customers in Asia.
They may help prevent an oil shortage in the region.
Higher risks and supply disruptions have pushed oil and diesel prices higher.
India’s purchases of Russian oil have remained high but declined from July to August.
Saudi Arabia has sharply increased crude shipments through the Strait of Hormuz since August.
Shipments accelerated after an attack on the East-West pipeline two weeks ago.
The pipeline offers an alternative route that bypasses the Strait of Hormuz.
Saudi Arabia has sold nearly 100 million barrels for October and November delivery to Asian customers.
Brent futures reached $105 a barrel as the war disrupted global crude and fuel supplies.
- Who
- Saudi Arabia, Asian oil customers, and traders cited in the report.
- What
- Saudi Arabia has increased crude shipments through the Strait of Hormuz and sold nearly 100 million barrels for October and November delivery.
- Where
- Through the Strait of Hormuz to Asian customers; the affected East-West pipeline connects Saudi Arabia’s eastern and western facilities.
- When
- Shipments rose sharply from August and accelerated after an attack two weeks ago; the sales cover October and November deliveries.
- Why
- The East-West pipeline attack disrupted an alternative route, while the war disrupted global supplies and raised concerns about a regional shortage.
Key facts
- Crude sales
- Nearly 100 million barrels sold for October and November delivery to Asian customers.
- Oil price
- Brent futures climbed to $105 a barrel.
- Pipeline attack
- An attack on Saudi Arabia’s East-West pipeline occurred two weeks before the reported acceleration.
- Alternative route
- The East-West pipeline bypasses the Strait of Hormuz.
- Indian imports in September
- Russian crude imports were about 1.8 million barrels per day.
- Indian imports in July and August
- Imports fell from 2.82 million barrels per day in July to 2.08 million barrels per day in August.
Sources
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