# The blockade of the Strait of Hormuz is creating an economic split among oil exporters in the Persian Gulf.

*business · news · 2026-05-01 · Bloomberg*

## Key points

- Saudi Arabia is diverting most crude exports to the Red Sea, avoiding the Hormuz blockade.
- Saudi Arabia's oil revenues have increased, offsetting shipment losses due to higher global prices.
- The United Arab Emirates is facing a significant drop in oil income from the Strait of Hormuz closure.
- Oman is benefiting financially from the disruption as oil prices surge.

**Companies:** Goldman Sachs Group Inc.
**Countries:** Saudi Arabia, Oman, United Arab Emirates

[Read the full story on Bloomberg](https://www.bloomberg.com/news/articles/2026-05-01/saudi-arabia-set-for-oil-windfall-after-hormuz-boosts-prices)

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