Introduction
The blockade of the Strait of Hormuz by Iran has had significant repercussions on Saudi Arabia’s crude oil exports. In March 2026, the kingdom’s average crude oil exports were halved, leading to urgent strategic measures.
Adaptations to the Crisis
Faced with the blockade, Saudi Arabia redirected its oil shipments through a 750-mile east-west pipeline to the Red Sea. This pipeline has a capacity of approximately 7 million barrels per day, helping to mitigate some losses. Specifically, the Port of Yanbu on the Red Sea became critical, as its export volumes surged, averaging 3.4 million barrels per day during March.
Remaining Challenges and Outlook
Despite these adaptations, challenges remain. The Port of Yanbu reached its physical loading limits, leading to delays as tankers waited to dock. Furthermore, the overall traffic through the Strait of Hormuz has plummeted drastically, with vessel numbers decreasing from 135 to just 6 per day. The future remains uncertain, as Iran’s control over the strait continues to shape the regional oil landscape.
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