Saudi pipeline pumping 7 million bpd of oil, bypassing Hormuz, Bloomberg News reports

Saudi Arabia's East-West pipeline, which circumvents the Strait of Hormuz, is pumping oil at its full capacity of 7 million barrels a day, Bloomberg News reported on Saturday, ‌citing ⁠a person ⁠familiar with the matter.

Crude oil exports from Saudi Arabia's Yanbu port on the Red Sea have now reached 5 million barrels a day, and the country is also exporting about 700,000 to 900,000 barrels a day ⁠of oil products, ‌the Bloomberg report said.

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Reuters ​could ​not immediately verify the report. Saudi Arabia's ⁠Aramco did not immediately respond to ​a request for comment.

Aramco CEO Amin Nasser had told reporters earlier in March on an earnings call that the East-West pipeline was expected to reach its full capacity of 7 million bpd in the ‌coming days as customers re-route.

The conflict in the Gulf region, triggered by ​U.S. and Israeli ​attacks on ⁠Iran, has unsettled energy and transport markets and disrupted global shipping.

Iran has effectively closed the Strait ​of Hormuz, trapping roughly a fifth of the world's oil and liquefied natural gas supplies, sending crude oil surging above $100 a barrel.