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Tesla shutting down Berlin factory for 2 weeks due to Red Sea shipping attacks

Baua Electric

To reach the Red Sea, ships must travel through the Gulf of Aden and the Bab al-Mandeb Strait off the coast of Yemen. But Yemen, one of the world’s poorest countries, has been going through a civil war for a decade now, with the Saudi- and US-backed Yemeni government fighting against an Iran-backed group called the Houthis.

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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

Green Car Congress

He argued that rapidly growing production outside OPEC made the existing status quo unviable, and that lower prices in the short term would increase prices in the longer term through reduced investment and ultimately benefit all OPEC members. Saudi Arabia increased production by 6.8 million barrels per day in June. percent in 2016.