Saudi crude oil exports from its Red Sea crude oil terminals at Yanbu have gone dark, with many of the tankers loading there now switching off their AIS transponders due to the threat of Houthi attacks (MEES, 7 August). The result is increased opacity around the approximately 4mn b/d of crude oil exports that were being shipped from Yanbu before the Houthis began their campaign against Saudi vessels in late-July (MEES, 24 July).
The Houthi campaign has heavily disrupted crude oil exports from Yanbu, which has been the only route to market for Saudi crude while shipping through the Strait of Hormuz is restricted. Around 80% of these volumes were shipped through the Bab al-Mandeb to Asia, but the Houthi threat means most vessels have now diverted north to Egypt’s Sumed pipeline and the Suez Canal (MEES, 24 July). (CONTINUED - 956 WORDS)
