Saudi Arabia Boosts Gulf Oil Exports After East-West Pipeline Attack
Saudi Arabia has increased crude shipments from Gulf terminals after an attack disrupted its East-West Pipeline, signalling a partial recovery in oil exports.
Saudi Arabia has increased crude oil shipments from its Gulf terminals after a drone attack disrupted its East-West oil pipeline, providing signs of a partial recovery in exports while regional shipping routes remain under pressure.
Saudi Aramco loaded around 14 million barrels of crude onto seven Very Large Crude Carriers at Ras Tanura on September 20, according to tanker-tracking data cited by Reuters. Saudi crude shipments through the Strait of Hormuz have also increased, with flows averaging about 2.9 million barrels per day in recent days, compared with roughly 700,000 barrels per day in August.
The East-West Pipeline was shut after a September 13 attack, halting crude loadings at Yanbu on the Red Sea. Saudi Arabia has since shifted more exports towards eastern Gulf terminals and increased shipments to Asian buyers, while some cargoes destined for Europe were cancelled.
Aramco is also using ship-to-ship transfers near Oman’s Sohar port. Trade sources said the company plans to move around 60 million barrels from Ras Tanura through such transfers during September and October, helping offset reduced Red Sea shipments.
The increased flows have eased some supply concerns, with Brent crude falling below $100 a barrel on Monday. However, traffic through the Strait of Hormuz remains significantly below normal, leaving global energy markets exposed to further disruption.
Saudi Arabia has managed to reroute some crude, but the backup plan still depends heavily on a strategically sensitive waterway.
