And most of the 4 million was to supply refineries in Saudi Arabia and Egypt. Only about 1 million was shipped off to the European/Mediterranean market. Which explains why the increase in tanker loadings at Yanbu has been over 300%.
So, the increase in tanker flows there has been roughly 5-6 Mbpd. Which makes up for the relatively low amount of oil going through the Bab. To quote Wendy from back in July:
“If the Houthis manage to completely block Saudi Arabia from using the Red Sea, they would take roughly 4 percent of the world’s oil off the global market.”
Well, it wouldn’t be taken off the market, but the indicates a throughput of roughly 4 Mbpd. From another source:
“In 2018, an estimated 6.2 million barrels per day (b/d) of crude oil, condensate, and refined petroleum products flowed through the Bab el-Mandeb Strait”
DB2