Saudi Arabia has already increased crude exports through the Strait of Hormuz this month and plans to further boost supply.

BlockBeats news, September 15 - People familiar with the matter said Saudi Arabia is seeking to further increase oil supplies exported through the Strait of Hormuz. Saudi Arabia's crude oil shipments through the Strait of Hormuz in the first 10 days of this month have already increased compared with August, and it is now seeking to further expand supply. The people familiar with the matter revealed that Saudi Arabia had raised overall exports to nearly 4 million barrels per day in early September, of which about 1 million barrels per day were exported through the Strait of Hormuz, with the remainder exported via the Red Sea port of Yanbu.

Previously, Saudi Arabia's exports in August fell to about 3 million barrels per day, the lowest level in at least nine years according to ship-tracking data from Vortexa and Kpler. It is not yet clear how quickly Saudi Aramco can increase Hormuz exports and by how much to offset the impact of the pipeline shutdown.

In addition, a shortage of tankers has also become a limiting factor. Saudi Aramco declined to comment, and the Saudi Ministry of Energy said there was nothing to add beyond last Friday's statement. Two regional officials said the East-West oil pipeline will be out of service for several weeks. Meanwhile, U.S. Energy Secretary Wright expects the pipeline to resume operation "soon."