Saudi Arabia has more than doubled its oil exports through Egypt’s Mediterranean port of Sidi Kerir, reaching approximately 2.3 million barrels per day in August compared to 1 million the previous month. This strategy aims to bypass Houthi attacks in the Red Sea, which have reduced Saudi exports via the Bab el-Mandeb Strait by 90%, dropping from 11 million barrels in late July to 1.3 million in early August. Supertankers now use the Sumed pipeline linking Ain Sokhna on the Red Sea to Sidi Kerir on the Mediterranean to avoid transiting the Suez Canal fully loaded. The alternative route around Africa adds approximately 25 days of travel, making imports to Asia less cost-effective and redirecting oil flows toward American and European markets.
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