Saudi Arabia Restarts East-West Oil Pipeline After Drone Attacks
Saudi Arabia has restarted operations at its East-West oil pipeline, according to three sources. The restart follows drone attacks that forced the shutdown of the pipeline on September 13 and halted crude loadings at Yanbu port. Operations resumed on Tuesday with a low pumping rate, though Saudi Aramco aims to restore full capacity of around 4 million barrels per day (bpd), which accounts for about 4% of global supply. The resumption led to selling pressure in oil markets, causing Brent crude futures to fall by more than $2 a barrel. The pipeline reroutes oil supplies from the Gulf to Yanbu on the Red Sea coast and is critical amid ongoing disruptions through the Strait of Hormuz due to regional conflicts. A cargo was scheduled for loading at Yanbu bound for China.
Topics: East-West Pipeline oil exports oil pipeline Saudi Arabia Yanbu port