Saudi Oil Exports Plummet Amidst Bab al-Mandab Strait Disruptions

According to the International Desk of Webangah News Agency, a substantial reduction in Saudi Arabia‘s oil exports has been observed, attributed to disruptions in the Bab al-Mandab Strait. Russell Hardy, CEO of Vitol, the world’s largest independent oil trading company, stated that global demand in the sector has decreased by 1.5 million barrels per day this year compared to the previous year. Hardy further indicated that the Bab al-Mandab Strait has impacted the daily export of 2 to 3 million barrels of Saudi oil. Previously, the Yemeni armed forces had announced a ban on the passage of ships associated with Riyadh in the Bab al-Mandab Strait in response to Saudi aggressions against Yemen. Economic affairs expert Salim al-Jadabi also highlighted that following Yemen’s sanctioning of vessels linked to Saudi Arabia, the country’s oil exports have fallen from 7 million barrels per day to 3 million barrels, marking the lowest level in the past nine years.