Saudi Arabia is reportedly working to increase its crude oil exports through the Strait of Hormuz to offset the impact of the closure of a crucial bypass pipeline following an attack.

Bloomberg reported on Monday, citing sources, that Saudi Arabia's crude shipments through the Strait of Hormuz in the first ten days of this month have already risen compared to August, and it is now seeking to further boost supply through the waterway.

On the same day, US President Donald Trump signaled a potential opening for engagement with Iran. In a post on his social media platform, he stated that Iran is "eager to make a deal and desperately needs one," adding, "I will decide whether the US chooses to participate—we are open to it."

Trump's comments came after a scheduled meeting in Oman between Iran and other Gulf states was postponed, dealing a setback to diplomatic efforts to restore shipping through the Strait. Iran said the delay was at Saudi Arabia's request.

For Saudi Arabia, the push to increase Hormuz exports comes as its key oil artery that bypasses the strait was forced to shut last week following an attack. The pipeline had served as a major route for Middle Eastern crude to circumvent the Strait of Hormuz.

The East-West Pipeline, which Saudi Arabia announced had been shut last week, had previously been a vital "lifeline" for maintaining crude exports amid heightened risks in the Strait of Hormuz.

The roughly 1,200-kilometer pipeline crosses the Arabian Peninsula, connecting eastern Saudi oil fields to the Red Sea port of Yanbu, with a maximum capacity of 7 million barrels per day, of which around 5 million barrels could be used for export, with the remainder feeding refineries on the Red Sea coast.

Following the outbreak of hostilities involving Iran, Saudi Arabia had quickly activated the pipeline to divert some crude from the Gulf to Red Sea export points, reducing its reliance on the Strait of Hormuz.

Bloomberg noted that Saudi Arabia's average daily crude exports fell to around 3 million barrels in August, the lowest in at least nine years. In early September, exports began to recover, approaching 4 million barrels per day, with roughly 1 million barrels per day passing through the Strait of Hormuz and the remainder mainly shipped via Yanbu.

However, after at least two facilities along the pipeline were attacked last week, Saudi Arabia shut down the East-West Pipeline. Reports indicated the pipeline had been transporting approximately 4 to 5 million barrels per day, equivalent to about 4% of global oil supply.

Reuters reported that Saudi Arabia has not specified the extent of damage or a timeline for restoration, with market estimates ranging from days to weeks.

US Energy Secretary Chris Wright said Monday he expects the pipeline to resume operations "soon," while regional officials cited by the Associated Press suggested it could take weeks to restore.

To maintain crude exports, Saudi Arabia would need to further increase shipments through the Strait of Hormuz. But Bloomberg noted this is not an easy task.

On one hand, the strait itself still faces elevated shipping security risks. On the other, the Middle East shipping market is grappling with a severe tanker shortage. Although Saudi Arabia operates a large tanker fleet, it also frequently charters foreign vessels.

Media reports indicate that shipping costs for crude from Saudi Gulf ports to East Asian nations approached $1 million per day last Friday, a record high.

Meanwhile, Saudi Arabia's other potential export alternative—the Red Sea route—is also affected by Houthi militant activity. The Houthis have recently advanced along Yemen's Red Sea coast and expanded toward the Bab el-Mandeb Strait, placing pressure on both of Saudi Arabia's key maritime energy export channels simultaneously.

As Saudi Arabia boosts Hormuz exports, diplomatic efforts to restore shipping through the strait have hit a new snag.

Iran and other Gulf states had been scheduled to meet in Oman on Monday to discuss commercial shipping arrangements for the Strait of Hormuz. Iran had previously said it planned to present a shipping plan agreed with Oman.

But Oman's foreign minister announced Sunday evening that the meeting had been postponed. Reuters cited Iranian diplomatic sources as saying the delay was a joint decision by Iran and Oman, prompted by requests from some regional countries. Iran later stated that the postponement was at Saudi Arabia's request.

This leaves Saudi Arabia in a position of seeking to increase crude flows through the Strait of Hormuz while facing a delay in regional diplomatic mediation efforts, as it deals with the pipeline outage. Reuters noted that the pipeline closure, continued Houthi attacks, and the postponed Hormuz meeting collectively drove oil prices higher on Monday, with Brent crude briefly rising above $108 per barrel.