Saudi Arabia has ramped up oil shipments through the Strait of Hormuz since U.S.-Iran deal
Saudi Arabia has significantly ramped up oil shipments through the Strait of Hormuz following a U.S.-Iran agreement to reopen the sea lane, with exports more than doubling since June 17 as a backlog of tankers clears. However, tanker traffic remains volatile due to renewed hostilities, with throughput still well below the pre-conflict average of ~15 million barrels per day.