Saudi Arabia is reaping a massive oil windfall, making it perhaps the Iran war’s only winner

Key Points:

• President Donald Trump reportedly declined Saudi Arabia's requests for U.S. assistance against Houthi attacks threatening Red Sea oil exports, prompting Riyadh to consider reduced U.S. involvement amid escalating regional risks.
• Despite the conflict, Saudi Arabia's oil revenues have increased due to higher crude prices offsetting lower export volumes, with annualized export revenues rising to an estimated $210 billion from $150 billion pre-war.
• Saudi Arabia has resumed oil exports through the East-West Pipeline at about 3.5 million barrels per day, following repairs after attacks by Iran-backed militias, enhancing its export capabilities via the Red Sea.
• The U.S. military's protection of tankers in the Strait of Hormuz has facilitated the restoration of Saudi oil exports through the Persian Gulf, allowing the kingdom to diversify its export routes amid ongoing regional instability.
• While Saudi Arabia faces continued threats from Iran and its proxies, Iran's economy is severely hampered by a U.S. naval blockade, with experts predicting a prolonged conflict and a weakened Iran reliant on foreign aid post-war.