Saudi Arabia Suspends Oil Exports Through Bab al-Mandeb

  • 7/26/2018
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Energy Minister Khalid al-Falih said on Thursday that Saudi Arabia was "temporarily halting" all oil shipments through the strategic Red Sea shipping lane of Bab al-Mandeb. Falih said in a statement sent by his ministry that the Houthi insurgents in Yemen had attacked two Saudi Very Large Crude Carriers (VLCCs) in the Red Sea on Wednesday morning, one of which sustained minimal damage. "Saudi Arabia is temporarily halting all oil shipments through Bab al-Mandeb Strait immediately until the situation becomes clearer and the maritime transit through Bab al-Mandeb is safe," the statement said. Both tankers were operated by Saudi shipping company Bahri, it said. "The two million barrels capacity for each tanker were full of crude oil cargo at the time and were headed for export. One of the VLCCs sustained minimal damage," Falih said. "However, fortunately, there were no injuries or oil spill that would have resulted in catastrophic environmental damage. Efforts are currently underway to move the damaged ship to the nearest Saudi port."

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