Saudi Arabia wants to send 10 million barrels of oil a day around Hormuz. A former Treasury official says it may barely move prices

Saudi oil giant Aramco , officially the Saudi Arabian Oil Company, is racing to build a bigger back door around the Strait of Hormuz. Aramco CEO Amin Nasser said this week that the company is working to raise the capacity of its East-West Crude Oil Pipeline, also known as the Petroline, to 10 million barrels a day from about 7 million today, while running engineering studies on additional export routes. Nasser made the comments to Al Arabiya Business in his first interview since the war began .

Source: Fortune Crypto