Saudi Shifts Oil Route Through Egypt to Bypass Red Sea Attacks
TL;DR Summary
Saudi Arabia is routing a large portion of its crude through the Sumed pipeline from Ain Sokhna to Sidi Kerir in Egypt to evade Houthi attacks in the Red Sea, with Sidi Kerir exports rising to about 2.3 million barrels per day in August. The move lengthens shipments by roughly 25 days and is less cost-effective for many Asian buyers, though it gives Riyadh greater optionality as it protects key chokepoints; most Sidi Kerir-bound oil currently goes to Europe and the U.S., signaling a broader shift in Middle East oil flows amid regional tension.
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- Saudi Red Sea oil exports go dark as Houthi attack threat grows Reuters
- Saudi oil tankers are disguising their destinations by signalling Egypt and the Suez Canal instead of home ports to avoid Houthi attacks Business Insider Africa
- Saudi crude transits via Bab-el-Mandeb fall close to zero in August kpler.com
- The Week in Charts: Red Sea shipping stabilises after July’s Houthi blockade shock | War, disruption and rerouting fail to derail container demand Lloyd's List
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