Gate News Report, March 9 — Due to the nearly blocked Strait of Hormuz and the rapid filling of oil storage facilities, Saudi Arabia has begun adjusting its oil production. Saudi state-owned company Saudi Aramco declined to comment. Saudi Arabia’s daily oil production is about 10 million barrels, with approximately 7 million barrels exported. Saudi Aramco has shifted some crude oil shipments from the usual route through the Strait of Hormuz to the Port of Yanbu on the Red Sea, but pipeline capacity is insufficient to fully replace the original export volume. Energy Intelligence Group reporter Amena Bakr commented on this news, stating that the production decrease occurs in fields that do not produce Arab Light crude and cannot export through Yanbu port. In fact, this is a reallocation of supply rather than a reduction in output, and Saudi Aramco is also exporting from storage facilities outside of Saudi Arabia.
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