Saudi Aramco Diversifies Oil Exports Amid Houthi Attacks

Saudi Aramco is rerouting oil exports through Egypt's Sidi Kerir port due to Houthi attacks in the Red Sea.

The state-owned oil company has increased crude offerings from the Egyptian port after a recent strike on a vessel in the area.

At least eight very large crude carriers are signaling Sidi Kerir, with arrivals expected over the coming weeks through mid-August, according to ship-tracking data.

The shift is part of Saudi Arabia's efforts to bypass traditional export routes due to insurance providers restricting coverage for vessels calling at the kingdom's ports, citing the risk of attacks.