Aramco Finds a New Way to Keep Saudi Crude Flowing to China

Aramco Finds a New Way to Keep Saudi Crude Flowing to China

Saudi Arabia is not waiting for the Strait of Hormuz to return to normal to deliver its crude to Asia. It is building a workaround, one tanker handoff at a time. Saudi Aramco is offering more September crude to Asian buyers through ship-to-ship transfers outside Hormuz, according to Reuters, after shipping data showed Saudi barrels moving through the strait aboard tankers with their tracking systems switched off. The model is relatively simple: move Saudi crude through the dangerous part of the journey, then transfer it to another tanker off Fujairah...