🔺Saudi and UAE oil revenues surge despite disruption in the Strait of Hormuz

◾Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), despite production declines caused by disruptions in the Strait of Hormuz in recent months and damage to the region’s energy infrastructure, have seen a sharp increase.

◾According to a report by “Wood Mackenzie,” the operating cash flow of these two companies this calendar year has been about $35 billion higher than the initial forecast.

◾The existence of alternative routes for oil exports, as well as a jump in global oil prices, have been cited as the main factors behind the increase in Aramco’s and ADNOC’s cash revenues.

◾Meanwhile, QatarEnergy’s operating cash flow has been $10 billion lower than Wood Mackenzie’s early-year forecast.