Saudis Bypass Hormuz as Oil Exports From Yanbu Surge Toward 5 Million Target
26th March 2026
One week ago, when fears that the Strait of Hormuz blockade would mean a permanent collapse in oil supply (we have since seen that Iran is allowing “friendly” ships to cross the strait, especially if they grease the toll-keeper with $2 million per crossing) hit a fever pitch and pushed the price of Brent to $120, we said that “Saudi Arabia Has Already Revived More Than Half Its Oil Exports Via Hormuz Bypass.”
With Iran blocking Saudi ships from cross Hormuz for the time being, the Kingdom had drastically ramped up its oil exports to more than half of normal levels despite the disruptions from the Iran war, a successful sign for the kingdom’s ambitious contingency plan to bypass the Strait of Hormuz. To do this, Saudi Arabia has ramped up crude shipments from Yanbu export terminals on the Red Sea coast as it diverted supplies away from the Persian Gulf and the Strait of Hormuz via the East-West pipeline.