Saudi oil shipments through the Bab el-Mandeb Strait have decreased by 36% over the past two weeks. The reason is the escalation of conflict with the Houthi movement, which operates under the banner of Ansar Allah. This was reported by The National, citing data from the analytical company Kpler.
Previously, the Houthis announced a maritime blockade of Saudi Arabia. In their statement, they emphasized that they reserve the right to a "comprehensive escalation" in response to Riyadh's actions.
As the publication notes, last week oil supplies to Saudi Arabia's Red Sea ports dropped to 6.1 million barrels per day. For comparison, the maximum figure recorded on June 29 was 9.5 million barrels per day.
The route through the Bab el-Mandeb Strait has become crucial for Riyadh after the Hormuz Strait was closed due to the conflict between Washington and Tehran. Currently, Saudi Arabia redirects about 70% of its oil to the Yanbu al-Bahr port located in the west of the country.
Approximately 12% of global trade passes through the Bab el-Mandeb Strait. If the strait is closed, nearly a quarter of global oil and gas supplies would be at risk.
