Saudi Arabia cuts oil exports due to the threat of Houthi attacks
Kyiv • UNN
Due to the threat of attacks by Yemen's Houthis, Saudi Arabia is cutting oil exports through the Red Sea, and tankers are switching off their tracking systems. Oil shipments through Egypt are increasing, reaching a record 2.17 million barrels per day.
Saudi oil exports through the Red Sea are declining amid the growing threat of attacks by Yemen’s Houthis, while tankers are increasingly switching off their tracking systems. Reuters reports this, writes UNN.
Details
On July 20, the Houthis announced a maritime embargo against Saudi Arabia. Since then, they have claimed attacks on tankers linked to Saudi Arabia, oil facilities in Yanbu, and the Jazan refinery on the Red Sea coast.
Due to the threat of attacks, an increasing number of vessels are making so-called "dark voyages"—switching off their automatic identification system (AIS) so that their location is not available in public tracking systems.
Data on Saudi Arabia’s exports vary significantly
Analysts report that all recent oil loadings in Yanbu took place without a continuous AIS signal. As a result, estimates of export volumes differ substantially.
Last week, all liftings in Yanbu were conducted in the dark. At present, we are not seeing any loadings with the automatic identification system (AIS) switched on
According to Vortexa, oil loadings in Yanbu fell to 2.38 million barrels per day from 2.71 million a week earlier. Kpler estimates the decline at 1.78 million barrels per day, while AXSMarine, conversely, recorded an increase to 850,000 barrels.
At the same time, Saudi Arabia is increasing the transportation of oil northward through the Red Sea, the Suez Canal, and Egypt’s SUMED pipeline. According to Vortexa, last week the average volume of crude oil and condensate loaded at Egypt’s Sidi Kerir reached a record 2.17 million barrels per day. About 90% of this volume consisted of Saudi oil.