Yanbu Oil Exports Set for Restart Amid Pipeline Repair Progress

Saudi Arabia's oil lifeline may soon reopen as Saudi Aramco eyes restarting exports from the Yanbu port on the Red Sea.

The port was halted after drone attacks on September 10, which damaged the East-West pipeline that feeds crude to the port.

Aramco has been shipping oil via shuttle-shipping to the Strait of Hormuz, but Asian refiners may soon be able to pick up cargoes at Yanbu again, according to unnamed trade sources.

Executives at Aramco have given informal assurances to at least three refiners that loadings will resume, although no timelines have been given.