The Zhitong Finance App learned that according to people familiar with the matter, Saudi Arabia is in negotiations with crude oil buyers and plans to complete crude oil shipments outside the Strait of Hormuz starting next year and include it in long-term supply contracts. This transit model was put into use during the Iran conflict, and now Saudi Arabia wants to normalize it to compete for greater market share.

The Zhitong Finance App learned that according to people familiar with the matter, Saudi Arabia is in negotiations with crude oil buyers and plans to complete crude oil shipments outside the Strait of Hormuz starting next year and include it in long-term supply contracts. This transit model was put into use during the Iran conflict, and now Saudi Arabia wants to normalize it to compete for greater market share.