Saudi crude oil exports dropped to 3 million barrels per day in August, a record low

According to tanker tracking data compiled by Vortexa and Kpper, Saudi Arabia ' s observed crude oil exports in August were approximately 3 million barrels per day, the lowest level recorded since early 2017. Saudi vessels were attacked by Yemeni Al-Houthi armed forces in the Red Sea, threatening Saudi flight routes in the Strait of Hormuz. The attack horrified Saudi Arabian clients, some of whom were reluctant to use Saudi Red Sea ports. Riyadh was forced to seek alternative routes to Africa, adding thousands of miles and disrupting global supply chains。