CryptoWorld News reports that Saudi Arabia’s alternative oil export route has not yet been able to operate at full capacity. Saudi Arabia has significantly increased crude oil exports through its Red Sea ports, but the flow on this alternative route has not yet stabilized at the target level. The data shows that in the first three weeks of April, the average daily crude oil shipped overseas from Yanbu Port is about 4 million barrels—roughly five times the amount before the Iran conflict broke out, but still only about 80% of Riyadh’s target. After Iran blocked the Strait of Hormuz in late February, the oil market has been closely monitoring oil transportation at Saudi Arabia’s western-coast ports. Yanbu Port is currently the largest single alternative solution for the oil industry to respond to the blockade of the strait. This east-west oil pipeline can transport 7 million barrels of crude oil per day from oil fields near the Saudi Persian Gulf coast to Yanbu on the Red Sea coast, with about 2 million barrels of crude oil allocated for domestic use.

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