Saudi Aramco Resumes Crude Loadings Amid Pipeline Recovery

Saudi Aramco has increased crude loadings in the Middle East Gulf after disruptions caused by an attack on its east-west pipeline to the Red Sea. According to data from TankerTrackers.com, approximately 14 million barrels of crude oil were loaded onto seven very large crude carriers at Ras Tanura port on Sunday.

This marks a partial recovery for Saudi shipments following the drone attacks that forced the company to shut down its east-west pipeline on September 13. The shutdown resulted in halted crude loadings at Yanbu oil port on the Red Sea and led Aramco to cancel some crude cargo sales to European clients, increasing sales to Asia instead.

The increased activity has put pressure on oil prices, pushing Brent below $100 per barrel for the first time since September 9. Saudi Arabia sold about 60 million barrels of crude from its Ras Tanura port inside the Strait of Hormuz for loading via ship-to-ship transfer at the Omani port of Sohar this month and next.