Frontline CEO: Expect Oil Exports From Inside The Strait Of Hormuz To Increase Going Forward After Shut-Down Of Saudi East-West Pipeline

Middle East Oil Producers Realised That They Need To Own Tankers Themselves To Move Oil From Inside The Strait Of Hormuz It's Very Likely That Saudis Will Need To Participate In This To A Greater Degree After East-West Pipeline Shutdown We See Asian Refineries Trying To Reduce Dependency On Middle East Supplies By Signing Contracts With Brazil, Mexico, U.S. Suppliers We Think That The Security Situation In The Red Sea Is Manageable, But It Doesn't Matter Now As There's No Oil Coming From Yanbu Port We Are Taking Oil From The Gulf Of Oman, But Not Sailing Through The Strait Of Hormuz