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2026-04-07 19:08:30
[Saudi Yanbu Port Crude Oil Exports Drop 15% Weekly, Adding New Uncertainty to Red Sea Route] ⑴ Ship data shows that crude oil exports from the Saudi Red Sea port of Yanbu averaged nearly 3.9 million barrels per day in the week ending March 30, a decrease of about 15% from the previous week's approximately 4.6 million barrels. Meanwhile, the port's overall exports in March increased more than fourfold compared to February, reaching an average of 3.3 million barrels per day. ⑵ Analysts point out that the decline in exports may reflect vessel availability and unloading schedules. Furthermore, Houthi rhetoric regarding a possible attack on the Bab el-Mandeb Strait is making some shipowners cautious about sending ships to the port. ⑶ From a psychological perspective, Yanbu is currently the only Saudi port that can bypass the Strait of Hormuz to export crude oil to other regions. Its sharp weekly decline is shattering the market's previous optimistic expectation that "pipeline capacity fully offsets the strait blockade." If the new Red Sea risks materialize, it will lead to a double bottleneck in the global crude oil supply chain.
