Daily Energy Report

Saudi oil exports, Solar’s hail problem (Video), India & Venezuelan oil, China expands metals grip, China’s USA EV complaint, Vietnam boosts coal, Gazprom buys Shell stake, Japan LNG, and more.

Chart of the Day: Saudi Oil Exports from Western Ports are Increasing in Response to Increased Houthi Attacks around Bab El Mandeb

Summary

The Houthi attacks on ships around the Bab El Mandeb area started on November 19. Attacks on oil tankers started in December. Figure (1) above shows Saudi oil exports from Western ports since early November. It shows that Saudi oil exports (crude and products) have increased significantly since then. 

EOA’s Main Takeaway

Saudi Arabia has two pipelines that transport oil from the fields in the eastern province near the Gulf to Western ports on the Red Sea (see map below). The Irony is that those two pipelines were built to avoid any problems in the Hormuz Strait, but no one thought they would solve problems in another strait: Bab El Mandeb!