The world's largest oil supplier has lost half of its exports — Bloomberg
Saudi Arabia, the world’s largest exporter of crude oil, saw a sharp drop in shipments to the global market in March 2026.
According to Bloomberg, export volumes fell by exactly half compared to the previous month due to the escalating security situation in the region.
While the average daily export volume in February was approximately 6.67 million barrels, it fell to 3.33 million barrels per day in March.
This sharp decline was primarily caused by the closure of the strategically important Strait of Hormuz, which blocked traditional sea routes.
Analysts note that the kingdom’s losses would have been significantly greater had Riyadh not redirected its logistics capabilities in time.
The Saudis managed to divert part of their export flow to the shores of the Red Sea, bypassing the dangerous conflict zone in the Persian Gulf.
A key role in this strategy was played by the main pipeline, which stretches over 1,200 km across the Arabian Desert.
This artery is capable of transporting up to 5 million barrels of oil per day from eastern fields to the country’s western ports, ensuring the viability of exports.
Thanks to this maneuver, exports through the port of Yanbu on the western coast have increased severalfold.
On certain days in March, shipments from there reached 4.4 million barrels per day, whereas in February this figure barely exceeded 0.79 million barrels, indicating a massive strain on the western hub.
As a reminder, oil prices are rising amid the escalation with Iran.
Additionally, the need for emergency medical care in Iran is growing significantly, while medical supplies are gradually running out and could be depleted if hostilities continue.
As a reminder, in Iran, the B1 bridge connecting the capital Tehran with the western regions of the country was damaged as a result of airstrikes.
The U.S. has exhausted its list of key targets for airstrikes on Iran, so further actions are in question. Despite this, Tehran continues to block the Strait of Hormuz, which is keeping tensions high in the oil market.
