Gulf oil exports steady in July, still 40% below pre-war mark
XLE•Red Sea exports slowing as Houthis step up attacks
Saudi crude exports from the Red Sea port of Yanbu slowed last month as Yemen's Iran-backed Houthis stepped up attacks near the Bab el-Mandeb strait.
Yanbu loadings fell to 3 million bpd after July 20 from 3.8 million bpd in April-June, according to Energy Aspects.
Many tankers are loading at Yanbu with Automatic Identification Systems transponders switched off, while others are rerouting via the Suez Canal and making greater use of the SUMED pipeline linking the Red Sea with the Mediterranean to avoid the Bab el-Mandeb, Energy Aspects co-founder Richard Bronze said.
Gulf exports steady but still well below pre-war levels
Gulf countries' crude oil and condensate exports were largely steady in July and remained about 40% below pre-war levels, shipping data showed, with signs of a slowdown emerging in the second half of the month as fighting in the region intensified again.
