American Network: Closure of Bab Al-Mandeb Will Reduce Global Oil Supplies by 7%

The American network “CBS News” reported that if the Bab Al-Mandeb Strait is completely closed following Sana’a forces’ announcement of imposing a naval blockade on Saudi Arabia, it will reduce global oil supplies by 7%, which are already low due to the repercussions of the war between America and Iran.

Exclusive Follow-ups – Al-Khabar Al-Yemeni:

The network stated in a report, “A complete closure of the Bab Al-Mandeb Strait will reduce global oil supplies by 7%, as it will prevent most Saudi oil exports from leaving the region.”

It continued: “This disruption will exacerbate the huge decline in global oil flows resulting from the war in the Gulf, which has already reduced shipments by 10% of global supplies.”

For its part, Bloomberg agency said that Sana’a’s announcement of the Saudi navigation ban “adds to the series of risks facing oil supplies from the Middle East. Maritime navigation through the Strait of Hormuz, through which about one-fifth of the world’s oil passed before the US-led war on Iran, is still nearly halted, as Tehran and Washington exchange attacks.”

Read also: Bloomberg: Yemeni Naval Blockade on Saudi Arabia Will Multiply Oil Supply Risks from the Middle East

It explained that “any disruption in supplies through the Red Sea, the passage currently used by Saudi Arabia to transport most of its crude oil exports, would exacerbate the impact of the war on global oil trade.”

It stated: “The Kingdom diverted its oil supplies to the main Yanbu port on the Red Sea following the outbreak of the war and Iran’s effective closure of the Strait of Hormuz.

These exports, which rose to a record high of 4.19 million barrels per day last month, have helped limit the disruption of global supplies. However, this route remains fragile as it exposes oil tankers to attacks by the Houthis, who have previously attacked ships in the Red Sea,” according to the agency.

The Sana’a forces spokesman, Yahya Saree, had announced on Monday that they had begun imposing a naval navigation ban on Saudi Arabia according to the siege-for-siege equation, in response to its continued siege of Yemen for over 11 years.