Saudi Arabia bypasses 7 million barrels of oil through the Strait of Hormuz every day.

According to reports, Saudi Arabia is intensifying its oil exports through its east-west pipeline leading to the Red Sea, as the Strait of Hormuz is almost completely stagnant. Currently, the key east-west oil pipeline bypassing the Hormuz Strait is transporting oil at full capacity of 7 million barrels per day. However, with the Houthi rebels in Yemen announcing their participation in the conflict, the oil market is concerned that the Red Sea could become a new front line for conflict.