China is providing an economic lifeline to Yemen’s embattled government as it offers a steady outlet for crude exports. Exports to China from the south-eastern Ash Shihr terminal have averaged 29,000 b/d since their resumption in August 2016 following government military advances. Thailand is the only other key buyer with around 10,000 b/d, though Italy took two cargoes totalling 1.6mn barrels late last year (see chart). Some small volumes are also shipped west to Yemen’s Aden...