Report: Saudi Arabia's crude oil exports rebounded in April

After the country redirected its crude oil transport capacity to the Yanbu Red Sea port, crude oil shipments recovered to about 60% of pre-war levels, but there is still a gap of approximately 20% compared to Saudi Arabia’s Red Sea shipping export target. Data shows that Saudi Arabia’s total crude oil exports last month were around 3.96 million barrels per day, with March’s revised exports at 3.64 million barrels per day. Due to the blockade of the Strait of Hormuz, about 44 million barrels of Saudi crude oil remain stranded in the Persian Gulf and cannot be exported.