Saudi Oil Pipeline Resumes Exports After Drone Strike Repairs
Saudi Arabia has resumed oil exports through its key cross-country pipeline after repairs following drone strikes earlier this month, according to a person with direct knowledge of the matter.
Flows through the line have reached about 3.5 million barrels a day, another person said. The pipeline's total capacity is around seven million barrels a day, with five million typically earmarked for exports.
The resumption will restore Saudi Arabia's access to an alternative export route that it had been using during the Iran war, even as the kingdom has ramped up shipments through the Strait of Hormuz this month. Buyers have been clamoring for supply, with some customers in Europe being told they won't be allocated any barrels next month under term contracts.