Bloomberg reported a 50% reduction in oil exports from Saudi Arabia
The volume of exports from Saudi Arabia decreased by 50% in March and averaged 3.33 million barrels per day against the background of Iran's closure of the Strait of Hormuz. This was reported by Bloomberg on April 1.
According to monitoring data, the average volume of crude oil supplies from Saudi Arabia in February amounted to 6.66 million barrels per day. The data for both months does not include about 55 million barrels of Saudi oil, which remain blocked in the Persian Gulf.
After the outbreak of the war in Iran, Riyadh redirected oil from the Persian Gulf export terminals to its East-West pipeline, which can transport about 7 million barrels per day from oil fields in the east of the country to refineries and ports on the Red Sea.
"The drop would have been much greater if Saudi Arabia had not been able to redirect oil to export terminals in the Red Sea," the article says.
In addition, Saudi Arabia continues to supply cargo to customers in Europe and on the east coast of North America from tanks located on the Mediterranean coast of Egypt.
The Financial Times newspaper reported on March 27 that the UAE government is calling on interested parties to create a multinational group to protect the Strait of Hormuz from Iranian aggression. The kingdom's government is ready to deploy its navy if necessary, which indicates a tougher stance towards Iran.
US President Donald Trump said during a cabinet meeting on March 26 that the Strait of Hormuz would be open to navigation after the US concluded a favorable deal with Iran. At the same time, he noted the continuing uncertainty about the safety of the route, pointing out the alleged possible risks of mining the water area.
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