Saudi Arabia Set For Oil Windfall After Hormuz Boosts Prices

By Andrey Biryukov

May 1, 2026 (Bloomberg) –The blockade of the Strait of Hormuz is creating an economic split among oil exporters in the Persian Gulf, with Saudi Arabia and Oman set for a windfall and others including the United Arab Emirates seeing a drop in petrodollar income.

Saudi Arabia is gaining a revenue edge over most of its Gulf Arab neighbors as it is able to divert the bulk of crude exports to the Red Sea. Higher prices more than compensated for lost shipments through the strait, according to Goldman Sachs Group Inc. The UAE, by contrast, is likely suffering