Saudi oil and gas exports hit by Yemeni attacks, 2.6 bn barrel loss
Yemeni Houthi maritime attacks have sharply disrupted Saudi energy shipments. Loading of liquefied natural gas (LNG) at the Yanbu terminal slowed after the last cargo, the tanker New York Lord, left on 28 July. OPIS data show August LNG exports fell to about 91,500 tonnes, a 69 % drop from July’s 296,900 tonnes.
The broader impact on crude oil is also severe. Reuters and Energy Aspect reports note that Saudi and Gulf crude exports in July were roughly 40 % below pre‑war levels, and Aramco’s chief executive said the world has lost more than 2.6 billion barrels of oil since the conflict escalated. Rebuilding global inventories to normal could require about 18 months, even if loading resumes at a rate of 2.1 million barrels per day.
Shipping routes have been altered: many tankers avoid the Red Sea and Bab al‑Mandeb, some disabling AIS transponders, while others shift cargoes through the Sumed pipeline linking the Red Sea to the Mediterranean. The heightened risk has raised insurance costs and forced carriers to reroute, further constraining export volumes.
Entities: Amin Nasser · Energy Aspect · Houthi rebels · SUMED pipeline · Saudi Aramco · Yanbu LNG terminal · Yemen Houthi rebels
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] Saudi crude oil exports in July were about 40 % lower than pre‑war levels. (Reuters data cited in article 8bd48374-aed8-4d9c-b23d-fbf8595874d3)
- [DISPUTED] LNG exports from Yanbu fell 69 % in August, from 296,900 tonnes in July to 91,500 tonnes. (OPIS data cited in articles 9a35d592-a06b-43a4-b85b-cbb64513b459 and 8bd48374-aed8-4d9c-b23d-fbf8595874d3)
- [○ 1 SOURCE] Cargoes are being rerouted through the Sumed pipeline to bypass the Red Sea and Bab al‑Mandeb. (Energy Aspect analysis reported in article 7a7d111a-519f-4d18-a48c-cf417633dd64)
- [○ 1 SOURCE] Some Saudi tankers have been loading oil while disabling AIS transponders to avoid detection. (Energy Aspect analysis reported in article 7a7d111a-519f-4d18-a48c-cf417633dd64)
- [● 2 SOURCES] Aramco’s chief executive said the world has lost more than 2.6 billion barrels of oil due to the disruptions. (Statement by Aramco CEO reported in articles 7a7d111a-519f-4d18-a48c-cf417633dd64 and 8bd48374-aed8-4d9c-b23d-fbf8595874)
- [DISPUTED] The tanker New York Lord loaded the last LNG cargo from Yanbu on 28 July. (OPIS report cited in article 9a35d592-a06b-43a4-b85b-cbb64513b459)
- [● 2 SOURCES] Rebuilding global oil inventories to pre‑disruption levels could take about 18 months at a replenishment rate of 2.1 million barrels per day. (Aramco CEO estimate reported in articles 7a7d111a-519f-4d18-a48c-cf417633dd64 and 8bd48374-aed8-4d9c-b23d-fbf8595874d3)
- [○ 1 SOURCE] At least 14 ships were attacked in the Red Sea in July, up from eight in June. (IMO reports cited in article 8bd48374-aed8-4d9c-b23d-fbf8595874d3)