Saudi Arabia is reportedly negotiating with customers to include oil loadings outside the Strait of Hormuz in long-term contracts for 2027. According to unnamed people familiar with the discussions, the proposal would formalize a shuttle system used during the Iran war. No final decisions have been made.

The system involves tankers carrying crude through the strait and transferring it to other vessels outside the waterway, with sellers often assuming the crossing risk. It developed as security concerns made some shipowners reluctant to enter Hormuz, leaving buyers struggling to arrange affordable transport.

Saudi Aramco is also reportedly discussing direct deliveries to Asian customers and greater flexibility in pricing. Some Asian buyers have explored using Brent futures instead of Dubai and Oman benchmarks for contractual purchases. Freight costs, pricing and eligible cargo volumes remain under discussion, the people said.

The talks are due to conclude by the end of 2026, according to those familiar with the negotiations. Saudi Aramco and the Saudi Energy Ministry did not respond to requests for comment cited in the report. The proposed changes remain subject to agreement and have not been officially confirmed.