Saudi Arabia Reverses Drone-Induced Oil Pipeline Disruption

Saudi Arabia has restarted operations at its East-West Pipeline, which was shut down on September 13 due to drone attacks. The pipeline had been rerouting around 4 million barrels per day of crude oil to the Red Sea port of Yanbu.

The resumption of supplies helped drive selling on global oil markets, with Brent crude futures falling by more than $2 a barrel to their lowest since September 8.

State oil firm Saudi Aramco is seeking to get the pumping rate back to 4 million bpd, while a security source said full resumption could take weeks. One cargo was scheduled to load at Yanbu later on Tuesday, bound for China.