Saudi Oil Exports Under Threat as Houthi Rebels Gain Control of Key Shipping Routes
Saudi Arabia's oil exports are under threat as Houthi rebels gain control of key shipping routes. The Houthis have declared a blockade on Saudi shipping and resumed large-scale attacks, cutting Saudi oil exports to Asia from 3.4 million barrels a day in June to just 128,000 in August.
The situation is further complicated by drone attacks blamed on Iraqi militias that forced the closure of a major pipeline running from eastern oil fields to the Red Sea.
Saudi Arabia's security dilemma deepens as its main ally, the United States, appears uncertain about widening its military role in the region. US President Donald Trump has signalled reluctance to deepen involvement in another Middle East conflict ahead of congressional elections.
Riyadh could pursue diplomacy with the Houthis or their backers in Tehran, but the Houthis have demanded that the Saudi-led blockade be lifted, a step that could strengthen them over the long term. Iran, meanwhile, has little interest in calming the region without major concessions from the United States.