Saudi Arabia bypasses the Strait of Hormuz, Yambu crude oil exports hit a record high

Kpler, an oil analysis firm, stated that over 30 tankers are waiting to load and unload outside the port of Yanbu, a record high, with loading delays extending to about 5 days this week.

Author: Julia Petroni

A satellite image of the oil infrastructure at the Red Sea port of Yanbu in western Saudi Arabia, taken on March 4.

The conflict in the Middle East has entered its fourth week, and Saudi Arabia is adjusting its crude oil transport routes to bypass the Strait of Hormuz, with crude oil exports from the Red Sea port of Yanbu operating at a record pace.

According to commodity data firm Kpler, the average daily loading volume at Yanbu port has risen to about 3.4 million barrels so far in March. Since the beginning of this week, the average daily export volume has reached 4.5 million barrels, with some days exceeding 5 million barrels.

Kpler analysts Emmanuel Belostreino and Jashan Prema said on Friday: “This is an unprecedented level for the Red Sea oil transport system and highlights the scale of this route adjustment.”

Earlier this month, Saudi Arabia began transporting crude oil via the East-West pipeline. This pipeline, which is approximately 750 miles (about 1200 kilometers) long, transports crude oil from the eastern oil fields and processing centers along the Persian Gulf to the Yanbu port on the west coast.

Kpler data shows that the pipeline has a transport capacity of about 7 million barrels per day, while Yanbu port’s loading capacity is about 4.5 million barrels per day.

Data indicates that most of the exported crude oil is currently being transported eastward, with India and China collectively absorbing about half of the volume. Since the beginning of this month, Yanbu port has been supplying about 1.5 million barrels of crude oil daily to these markets, filling the gap that was originally supplied from Saudi ports along the Persian Gulf.

However, congestion in the Red Sea has become a critical bottleneck. Kpler analysts say that there are currently over 30 tankers waiting offshore outside Yanbu port, a record high, with loading delays extending to about 5 days this week.

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