Saudi Arabia has increased its crude oil exports from Egypt’s Mediterranean port of Sidi Kerir by about 33% in the month since the Houthis threatened Saudi oil shipments in the southern Red Sea and the Bab el-Mandeb Strait.
Saudi state oil giant Aramco has started shuttling oil from its Yanbu port on the Red Sea north toward Egypt to avoid the threat from the Iran-aligned Houthi group in Yemen.
The newly established shuttle service has helped Aramco increase its shipments via the northern Red Sea route by about a third to 1.1 million barrels per day.
At least four tankers have made the Yanbu to Ain Sukhna journey at least twice and have shipped more than 16 million barrels of oil in recent weeks.
