Saudi Arabia Reroutes Millions of Barrels of Oil via Egypt as Houthi Attacks Hit Red Sea
Updated
Updated · The New York Times · Aug 26
Saudi Arabia Reroutes Millions of Barrels of Oil via Egypt as Houthi Attacks Hit Red Sea
3 articles · Updated · The New York Times · Aug 26
Summary
Saudi Arabia has sharply reduced crude shipments through the Bab al-Mandab Strait and is sending more oil north in the Red Sea to Egypt for onward transit to the Mediterranean.
Houthi attacks near Bab al-Mandab forced the shift, after the war in Iran had already knocked out the kingdom’s main Persian Gulf export route through the Strait of Hormuz.
The Egyptian pipeline workaround is costlier and can add weeks to delivery times for cargoes bound for Asian markets, increasing strain on global supply chains.
For the world’s largest oil exporter, the second major rerouting in six months underscores how regional conflict is exposing vulnerabilities in Saudi Arabia’s role as a dependable energy supplier.