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Markets Score 90 Bearish

Saudi Oil Exports Plummet 50% in March Amid Hormuz Disruption

Apr 01, 2026 10:57 UTC
CL=F, Brent, ^VIX
Immediate term

Saudi Arabia’s crude oil exports dropped by half in March as Iran’s blockade of the Strait of Hormuz forced the kingdom to reroute shipments to its Red Sea coast. The disruption highlights vulnerabilities in global oil supply chains and could exacerbate market volatility.

  • Saudi oil exports dropped by 50% in March due to Iran’s Hormuz blockade.
  • Exports averaged 3.33 million barrels per day in March.
  • Saudi Arabia rerouted shipments to Red Sea terminals to offset the disruption.
  • The Strait of Hormuz handles nearly 20% of global oil shipments.
  • The disruption could lead to increased volatility in energy markets.

Saudi Arabia’s crude oil exports fell by 50% in March, according to tanker tracking data, as Iran’s blockade of the Strait of Hormuz disrupted key shipping routes. The country, a major global oil supplier, rerouted shipments to its western Red Sea terminals to mitigate the impact. Shipments averaged 3.33 million barrels per day during the month, a significant decline from previous levels. The kingdom is a critical source of oil for the world, accounting for roughly one in every six barrels of crude transported by tankers. The rerouting effort prevented an even steeper drop in exports, but the disruption underscores the strategic importance of the Strait of Hormuz, through which nearly 20% of the world’s oil flows. Energy markets are likely to remain volatile as the situation unfolds, with potential ripple effects on global crude prices and supply stability.

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