Saudis seek to boost Hormuz oil exports as key pipeline attacked.
- Saudi Arabia is seeking to further increase oil supplies through the Strait of Hormuz after attacks forced it to shut a key pipeline that had been the main route for getting its crude to global markets during the Iran war.
- The kingdom had already increased shipments through the contested Hormuz waterway during the first 10 days of this month compared with August levels and is now looking to raise supplies further.
- Saudi Arabia closed the East-West pipeline, the main route that allowed the country to bypass Iran war-related disruption in Hormuz, after at least two locations along the pipeline were targeted last week. The shutdown puts millions of barrels a day of crude flows at risk at a time when markets are seeking additional supply, with Brent trading near $110 in recent days.
- Saudi Aramco declined to comment, while the energy ministry said it had nothing to add to its statement on Friday.