Saudi Oil Exports Rebound as Repaired Pipeline Restarts
Saudi Arabia's oil exports have taken a significant step towards recovery after the East-West Pipeline was brought back online last Tuesday, restoring a critical export route disrupted by drone attacks over two weeks ago.
The pipeline, also known as the Petroline, links Eastern Province oilfields to the Red Sea coast and had been carrying roughly 4 million barrels per day before the attack. Now, estimates suggest current throughput is around 2.65 million barrels per day, with expectations of a climb to between 3 million and 4 million bpd in the coming days.
State oil giant Saudi Aramco has sent customers its October loading schedule from Yanbu, and at least one refiner had already lifted a cargo from the port late last week. Crude loadings at Yanbu rose by roughly 1 million barrels on September 22, according to Kpler estimates.
The resumption of the pipeline allows Saudi Arabia to use both its Red Sea and Gulf export corridors simultaneously, which has been beneficial in easing pressure on Middle East oil flows strained by the US-Iran war. However, risks remain as Yemen's Houthi rebels have threatened energy infrastructure in the region.