Saudi Arabia increased crude oil exports from its Red Sea port of Yanbu to nearly 4 million barrels per day (bpd). This strategic shift bypasses the Strait of Hormuz following the effective closure of the global oil chokepoint.
The rerouting aims to maintain supply to global markets after Asian customers received supply reduction notices for a second consecutive month. Vessel-tracking data shows total Saudi exports in March fell significantly compared to February levels.
These reduced volumes keep global supply tight and support elevated oil prices. While Yanbu loadings mitigate the impact, Red Sea shipments cannot fully replace traditional Persian Gulf terminal volumes.