Mark Felix | Afp | Getty ImagesHOUSTON — The crisis in the Red Sea could lead to a shortage in the global tanker fleet if disruptions persist for another six months, the CEO of Kuwait Petroleum Corporation told CNBC.
Houthi militants have been striking commercial shipping in the Red Sea since November in support of Palestinians as Israel wages war in Gaza.
The company is continuing to ship through the Red Sea and is making decisions on which route ships should take on a daily basis, he said.
"We maintain a strategic tanker tanker fleet for these types of reasons," al-Sabah said.
Wirth told CNBC that Chevron is "not moving ships to the Red Sea."
Persons:
Shaikh Nawaf Al, Mark Felix, Shaikh Nawaf, KPC, Saddam Hussein's, Michael Wirth, Wirth, CNBC's Brian Sullivan
Organizations:
Kuwait Petroleum Corporation, Afp, Getty, HOUSTON, CNBC, Houthi, Global, Chevron
Locations:
Sabah, Houston , Texas, Red, Israel, Gaza, Africa, al, Al, Persian, Kuwait, Iraq, China