Saudi Oil Pipeline To Resume Operation Within Days Amid Ongoing Regional Tensions

A major oil pipeline in Saudi Arabia, damaged by an Iran-backed drone attack earlier this month, is expected to resume operations within days. The pipeline, operated by Saudi Aramco, was shut down on its main line due to significant damage from the attack, but a partial reopening could occur as soon as this week.

The attack, attributed to Houthi forces backed by Iran, caused extensive damage to a pumping station on the 1,200km pipeline, which runs from the Abqaiq oilfield to the Yanbu port on the Red Sea. The closure has affected up to 4% of the global oil supply, leading to a surge in oil prices and global inflation.

The Saudi energy ministry has not commented on the report or the extent of the damage. However, repairs are reportedly underway, with a partial reopening possible due to the pipeline's two parallel lines. The situation remains fluid, with potential for further escalation in the region.