Due to the escalation of tension in the Middle East region, Saudi Arabia's crude oil exports can be observed to plummet to the lowest level in at least 9 years last month. According to tanker tracking data compiled by Vortexa, Kpler, etc., Saudi Arabia's observable crude oil exports in August were about 3 million b/d, the lowest level since records began in early 2017. This data is also in line with the judgment of crude oil traders and a person familiar with Saudi oil operations. Saudi vessels were attacked by Yemeni Houthis in the Red Sea, threatening the routes Saudi Arabia has always used to avoid the Strait of Hormuz. Continued attacks have alarmed Saudi customers, some of whom are now reluctant to use Saudi Red Sea ports. This has forced Riyadh to find alternative routes through Africa, adding thousands of miles of flight and further disrupting an already strained global supply chain due to the region's six-month conflict.

Due to the escalation of tension in the Middle East region, Saudi Arabia's crude oil exports can be observed to plummet to the lowest level in at least 9 years last month. According to tanker tracking data compiled by Vortexa, Kpler, etc., Saudi Arabia's observable crude oil exports in August were about 3 million b/d, the lowest level since records began in early 2017. This data is also in line with the judgment of crude oil traders and a person familiar with Saudi oil operations. Saudi vessels were attacked by Yemeni Houthis in the Red Sea, threatening the routes Saudi Arabia has always used to avoid the Strait of Hormuz. Continued attacks have alarmed Saudi customers, some of whom are now reluctant to use Saudi Red Sea ports. This has forced Riyadh to find alternative routes through Africa, adding thousands of miles of flight and further disrupting an already strained global supply chain due to the region's six-month conflict.