Aramco Explores Oil Exports From Red Sea to Avoid Hormuz

Saudi Aramco is exploring the option of delivering more cargoes to Yanbu, a port on the Red Sea that’s situated outside the Persian Gulf, where dozens of ships are hunkered down as the Strait of Hormuz remains effectively closed.

Aramco typically exports the bulk of its crude from ports within the Gulf, but conflict in the Middle East has led to a logjam of vessels. The world’s biggest oil exporter has a 5 million barrel-a-day pipeline that runs across the country which can transport oil from fields in the east to the Red Sea in the west.