Saudi Arabia Faces a Yemeni Predicament in Transporting 100 Million Barrels to the Asian Market That It Sold in Advance to Cover Its Financial Deficit

Saudi Arabia faces a new predicament imposed by Yemen, amid indications of its inability to fulfill commitments it made to oil buyers in Asia.

Exclusive — Al-Khabar Al-Yemeni:

International media outlets reported that pressures are mounting on the Kingdom with its commitment to transport nearly 100 million barrels of oil to the Asian market during the months of October and November.

Saudi Arabia concluded deals to sell that quantity earlier this week with refining companies in India, Japan, and China.

The deal is the first of its kind with this quantity, which equals approximately the world’s consumption for one day.

The terms of the contracts include Saudi Arabia’s commitment to transport those quantities via the (East-West) pipeline that links the oil fields in eastern Saudi Arabia to the export port in Yanbu on the Red Sea.

Saudi Arabia faces major complications in resuming oil pumping through the pipeline, the most prominent of which are the repeated attacks continuously launched by the Yemeni forces, during which it succeeded in disrupting the export process in recent weeks.

Through selling the aforementioned quantity, Saudi Arabia is trying to cover its financial deficit, which has begun to manifest with the continuation of the Yemeni operation against its facilities and its push to seek loans amounting to 50 billion dollars.