Saudi Arabia to Increase Petroline Capacity to 7 Million b/d

Jim Bianco, president of Bianco Research posted on X, reports that Saudi Arabia's Petroline is set to increase its capacity from 1 million b/d to 7 million b/d. Tankers are lining up in the Red Sea to lift redirected cargos. The pipeline runs from Abqaiq to Yanbu and Al Muajjiz. This increase will not solve the Strait of Hormuz issue but will help by adding 6 million b/d. A Suezmax tanker, the largest that fits through the Suez Canal, holds 1 million barrels, with 18 million barrels of capacity waiting.