Saudi Arabia is reportedly set to finalize a plan to transship oil supplies through the Strait of Hormuz to compete for market share.

Zhito Finance APP has learned that, according to people familiar with the matter, Saudi Arabia is in talks with crude oil buyers about loading crude outside the Strait of Hormuz starting next year and including this in long-term supply contracts. This transshipment model was already used during the Iran conflict, and Saudi Arabia now hopes to make it routine in order to compete for a larger market share.