Amid rising geopolitical tensions in the Middle East, particularly surrounding the Strait of Hormuz, Saudi Arabia has increased its crude oil exports through the Yanbu port on the Red Sea to record levels.
According to the Operative Information Center-OMM, citing industry sources reported by Reuters, data from the company "Signal Ocean" indicates that daily loading volumes from the Yanbu port surged to approximately 4.7 million barrels around July 13. This is a significant increase from the 3.36 million barrels recorded on July 10.
Data from the analytical center "Kpler" confirms that, over the past few weeks, an average of 4 million barrels of oil have been loaded daily from the port. Saudi Aramco, the world's largest oil exporter, has significantly increased its utilization of the Yanbu port since the end of February.
Reports suggest that Saudi Arabia is considering expanding pipelines extending to the Red Sea coast to reduce its reliance on the Strait of Hormuz. This alternative route could serve to deliver oil to global markets more securely, bypassing potential chokepoints in the Persian Gulf.
Experts note that missile attacks by Houthi rebels in Yemen and broader regional security risks have heightened concerns regarding energy supply chains. Meanwhile, shipping industry sources indicate that the Yanbu port is currently operating at maximum capacity, with limited technical scope for further increasing export volumes in the immediate term.
The Strait of Hormuz is a critical maritime chokepoint, through which a significant portion of the world's oil supply passes daily. Saudi Arabia's strategic pivot to the Red Sea underscores the global energy sector's ongoing efforts to diversify logistics and mitigate risks associated with regional instability.
