Red Sea oil flows drop 4 mb/d since July 1
Red Sea and Bab al-Mandab security risks are forcing oil cargoes onto longer routes.
The main challenge for oil now lies in safe delivery rather than production.
Total Red Sea oil flows have dropped by 4 mb/d since July 1, driven by a 3.7 mb/d decline in Bab al-Mandab traffic.
Saudi crude is being diverted via the Suez Canal, SUMED pipeline, and Cape of Good Hope, increasing costs and complexity.