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The Diversion of Saudi Crude Through the Red Sea Reaches Its Peak in March and Falls by 41% in June
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Saudi Arabia redirected virtually all its crude oil exports through the East-West Petroline pipeline to Yanbu, in the Red Sea, following the closure of the Strait of Ormuz at the end of February. This flow peaked at approximately 4.07 million barrels per day in March. However, by June the volume had fallen to 2.39 million barrels per day, representing a 41% reduction from the maximum, according to Wood Mackenzie's vessel and cargo tracking data.
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