Saudi Arabia's East-West Pipeline is carrying 5.8 million barrels of crude oil a day, the kingdom's energy minister said, after reports pointed to a fresh disruption. The line restarted after drone attacks on September 11, and Riyadh has separately been rerouting about 4 million barrels per day through it, representing roughly 4% of global oil supply disrupted by the Strait of Hormuz crisis.
Saudi Arabia's East-West Pipeline is operating with oil flows reaching 5.8 million barrels per day as of Tuesday morning, Energy Minister Prince Abdulaziz bin Salman said. The pipeline carries crude to the Red Sea export terminal at Yanbu.
No interruptions despite disruption reports
A source said Monday the line has not experienced any interruptions. The statement came after media reports suggested a recent disruption amid ongoing tensions between Saudi Arabia and Yemen's Houthis.
Saudi Arabia restarted pipeline operations following drone attacks on September 11 that forced the kingdom to shut down the pipeline and halt crude loadings at Yanbu, three sources briefed on the matter said. The kingdom has attributed the attacks to Iraqi militias.
A bigger role since the Strait of Hormuz disruption
The pipeline has become increasingly important after the US-Israeli war on Iran disrupted oil flows from Saudi Arabia and neighboring Gulf states through the Strait of Hormuz. As a result, Riyadh has been using the East-West Pipeline to reroute approximately 4 million barrels per day to Yanbu, representing about 4% of global oil supply.
Source: Investing.com
Trading involves risk.
Risk Disclaimer
