Saudi Oil Exports from Mediterranean Soar with Shuttles North to Avoid Houthis
Saudi Arabia has boosted its crude oil exports from Egypt’s Mediterranean port of Sidi Kerir by about 33% in the month since the Houthis threatened Saudi oil shipments in the southern Red Sea and the Bab el-Mandeb Strait, tanker-tracking data compiled by Bloomberg showed on Friday. Saudi state oil g
Source: OilPrice.com
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DW NOTE
Saudi Arabia is rerouting crude through its East-West pipeline to Mediterranean ports and shipping north through Suez rather than south through the Red Sea, where Houthi attacks persist. The Strait of Hormuz has been effectively closed for 129 days, cutting global supply by 4.3 million barrels per day — roughly one-fifth of world output. Saudi Arabia can bypass Hormuz via the pipeline, but the Red Sea remains contested, forcing longer routes that tighten available tanker capacity and widen regional price spreads.