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Saudi boosts Mediterranean crude exports as Red Sea routes face risk

Aramco increased shipments via a northern Red Sea route by about a third to 1.1 million barrels per day, using shuttles from Yanbu to Egypt.

Reported · Written up by our desk · Energy

Saudi Arabia has raised crude exports leaving Egypt’s Mediterranean port of Sidi Kerir by about 33% in the past month, after Houthi threats targeted Saudi oil shipments through the southern Red Sea and the Bab el-Mandeb Strait, according to tanker-tracking data compiled by Bloomberg.

HousingWire reports that Aramco, the world’s largest single crude oil exporter, began shuttling oil from its Yanbu port on the Red Sea north toward Egypt to avoid the Iran-aligned Houthi threat.

The new shuttle operation runs from Yanbu northward toward the Egyptian port of Ain Sukhna, where cargo is discharged and pumped onto the SUMED pipeline for transport to Sidi Kerir.

The rerouting has helped Aramco lift shipments via the northern Red Sea route by about a third to 1.1 million barrels per day, and Bloomberg data cited by the outlet shows more than 16 million barrels shipped in recent weeks after multiple repeated Yanbu to Ain Sukhna tanker trips.

Latest closeWTI crude $82.40 ▲1.4%

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