Saudi Aramco starts pipeline expansion around Hormuz risk
pre-market1 source ↓machine-written, see hownot a recommendation
- ONGC close
- ₹232.17
- On the day
- -1.13%
- Futures OI, short build-up
- +2.8%
- Put-call ratio
- 0.59
- Max pain
- ₹230.00
Saudi Aramco began expanding its East-West Pipeline to raise crude transport capacity from 7 million to 10 million barrels per day, chief executive Amin Nasser said on a third-quarter results call on 03 Nov 2026. The project is intended to strengthen an alternative export route as disruption risks persist around the Strait of Hormuz. ⚡
Nasser said work had already started on the pipeline expansion and additional networks. Aramco is also conducting engineering work on existing export routes through the Strait of Hormuz and the Suez Canal, although it will not disclose further details until final investment decisions are completed. The expansion improves Saudi Arabia’s ability to move crude toward Red Sea export terminals without relying entirely on the Gulf passage, making export logistics more resilient during disruptions.
The development is relevant for the energy and oil-infrastructure segments because it links spare transport capacity with the security of global crude flows. It does not, by itself, change production capacity or confirm a change in Saudi export volumes; the immediate development is an infrastructure expansion from 7 million to 10 million barrels per day. 🛢️
In Indian trading, OI Charts data showed contrasting positioning on 03 Nov 2026. ONGC closed at ₹232.17, down 1.1%, while futures open interest rose 2.8%, indicating short build-up. Its put-call ratio was 0.59, with the largest call open interest at ₹240 and the largest put open interest at ₹220; max pain was ₹230 for the 23 Nov 2026 expiry. The stock had gained 2.8% over 20 sessions but remained below its 52-week high of ₹307.50.
Reliance Industries closed at ₹1,308, up 0.6%, with a 1.8% rise in futures open interest indicating long build-up. OI Charts data placed the largest call open interest at ₹1,300, the largest put open interest at ₹1,200 and max pain at ₹1,250 for the same expiry. The stock had risen 10.2% over 20 sessions, while its put-call ratio stood at 0.84.
What to watch next is the timing of final investment decisions, details of the additional networks and any changes in crude flows through the Red Sea, Suez Canal or Hormuz routes. These disclosures will show whether the project changes export-route flexibility beyond the announced capacity increase.
Source: Al-Monitor, 03 Nov 2026
Not investment advice. For informational purposes only.