With few good options for safely shipping oil, Saudi Arabia’s exports have fallen to a 13-year low.
Saudi Arabia has made several quick pivots to keep its oil flowing since the start of the U.S. war with Iran.
Within weeks of Iran’s closure of the Strait of Hormuz — once Saudi Arabia’s primary export route for oil — the kingdom turned to Plan B: bypassing the strait by ramping up exports through pipelines to the Red Sea.
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