Saudi pipeline to bypass Hormuz hits 7 million barrel goal

Saudi Arabia’s crucial East-West pipeline that circumvents the Strait of Hormuz is pumping oil at its full capacity of 7 million barrels a day, according to a person familiar with the matter. 

The technical milestone is the culmination of the kingdom’s longstanding contingency plan for keeping its oil flowing after the effective closure of their main export route. Flotillas of tankers have been redirected to the Red Sea port of Yanbu to collect the oil, providing an important lifeline for global supply.