Financial Ports

Saudi Oil Exports Plummet as Red Sea Blockade Cuts 5 Mb/d

CLAVE 1 / 4Saudi Arabia, the world’s third-largest oil producer, has lost 5 million barrels per day of exports due to attacks on critical infrastructure.

CLAVE 2 / 4The East-West pipeline, a key alternative route, was damaged by drone strikes and could take weeks to repair.

CLAVE 3 / 4Houthi rebels blockaded the Red Sea on July 20, forcing tankers to detour via Egypt’s Suez Canal.

CLAVE 4 / 4Global oil markets face a 4-5 Mb/d supply shortfall, tightening an already fragile market.

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