Houthi attacks on Saudi Arabia’s East-West pipeline have pushed more Saudi crude back through the Strait of Hormuz, with exports recovering above 4 million barrels per day in September.
Euro Times – Riyadh
Houthi attacks on Saudi Arabia’s East-West pipeline have prompted Saudi Aramco to increase crude exports through the Strait of Hormuz in September and October after some shipments from the Red Sea port of Yanbu were halted.
Kpler data showed Saudi exports recovering to more than 4 million barrels per day so far in September, after falling to 2.4 million bpd in August, the lowest level since at least 2013.
In the week ending September 13, 13 tankers carrying around 34 million barrels of crude exited the strait. Saudi Arabia accounted for about half of the volume, while Iraq supplied 35%.
Satellite data highlighted an even sharper shift: Saudi oil moving through Hormuz averaged about 2.9 million bpd over the latest six days, up from roughly 700,000 bpd in August.
The change follows Houthi attacks that disrupted the East-West pipeline, Saudi Arabia’s principal route for moving crude from the Gulf side of the kingdom to Yanbu and bypassing Hormuz.
The escalation has therefore produced a striking paradox: attacks on Saudi Arabia’s alternative export route have forced a larger share of its oil back through the strait that remains one of the central flashpoints of the US-Iran war.
Source: Reuters.
