Saudi Arabia Reopens Red Sea Shipping Lane

Saudi Arabia Reopens Red Sea Shipping Lane

Saudi Arabia resumed oil shipments through the Red Sea shipping lane Bab al-Mandeb , Reuters reported on August 4.

The kingdom temporarily halted petroleum shipments through the lane after two oil tankers were attacked while passing through the strait on July 25 by Yemen’s Houthi movement.

“The decision to resume oil shipment through the strait of Bab al-Mandeb was made after the leadership of the coalition has taken necessary measures to protect the coalition states’ ships,” Energy Minister Khalid al-Falih said in the ministry statement on August 4.

“The company is careful to continue monitoring and evaluating the current situation in coordination with the relevant bodies and take all necessary procedures to ensure safety,” state-oil company Saudi Aramco said in a statement.

Bab al-Mandeb is the main transit route for exports from the Gulf going through the Suez Canal. In 2016, an estimated 4.8 million barrels per day passed through the Bab al-Mandeb strait heading towards Europe, Asia and the United States, according to the US Energy Information Administration, Reuters previously reported.

Saudi’s decision to halt shipments prompted the Houthi movement to announce on July 31 that it would halt attacks on the Red Sea for two weeks to aid peace efforts.


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