Saudi Arabia Doubles Oil Exports via Egypt Sumed Pipeline

Saudi Arabia has significantly increased oil exports through the Sumed pipeline in Egypt to the Mediterranean Sea to avoid Houthi-led maritime embargos and attacks in the Red Sea. Exports from Egypt's Sidi Kerir port more than doubled in August to approximately 2.3 million barrels per day, up from 1 million barrels per day in July.

This strategic shift follows a nearly 90% drop in Saudi exports from the port of Yanbu through the Bab el-Mandeb Strait. To maintain flow, supertankers now pump oil at Ain Sokhna into the Sumed pipeline for delivery to the Mediterranean. While this bypasses the Red Sea, tankers destined for Asian markets must take a longer, more expensive route around Africa.

As a result of this dislocation, more Saudi crude is being delivered to the United States and Europe. This shift may trigger a broader market effect, potentially redirecting West African crude toward Asia. Saudi Aramco maintains that it has optionality through multiple access routes and alternative pathways to ensure continued delivery.