WorldEconomy
Saudi Oil Pipeline to Stay Mostly Offline for Weeks After Attack, Officials Say
A key Saudi oil pipeline hit in an attack will be mostly out of service for three to five weeks for repairs, two regional officials said. The outage, along with Houthi seizures of Red Sea islands, is pressuring oil exports and pushing prices higher.
The East-West Pipeline, which runs 1,200 kilometers (745 miles) across Saudi Arabia, was struck in an attack last week and forced to shut down on Thursday, according to two regional officials briefed on the matter. The officials said repairs, including at a major pumping facility, could take three to five weeks, leaving the pipeline mostly out of service.
The pipeline can carry up to 7 million barrels of oil a day. It is central to Saudi Arabia's strategy of shifting oil exports to the Red Sea to avoid the Strait of Hormuz, the Persian Gulf's sole exit, where Iranian attacks have stifled shipping.
Saudi Arabia blamed the attack on drones from Iranian-backed militias in Iraq, the reports said. The reports also said the US-Israeli war on Iran has forced the kingdom to shift its exports away from the Persian Gulf and rely on the East-West Pipeline.
In a separate development, Yemen's Houthi rebels seized more islands along Red Sea shipping routes, a move described as a new blow to Saudi Arabia's oil exports.
Oil prices gained more than 2% amid growing worries about global petroleum supplies. The developments squeeze the ability of Saudi Arabia, the world's biggest exporter, to get its crude to market.
- Saudi oil pipeline hit in strikes
- The Houthis vs Saudi Arabia
- Houthis attack
- Saudi oil pipeline
- Houthi rebels
- Yemen conflict
- Red Sea crisis
- West Asia conflict
- Saudi pipeline
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WorldEconomy
Saudi Oil Pipeline to Stay Mostly Offline for Weeks After Attack, Officials Say
A key Saudi oil pipeline hit in an attack will be mostly out of service for three to five weeks for repairs, two regional officials said. The outage, along with Houthi seizures of Red Sea islands, is pressuring oil exports and pushing prices higher.
The East-West Pipeline, which runs 1,200 kilometers (745 miles) across Saudi Arabia, was struck in an attack last week and forced to shut down on Thursday, according to two regional officials briefed on the matter. The officials said repairs, including at a major pumping facility, could take three to five weeks, leaving the pipeline mostly out of service.
The pipeline can carry up to 7 million barrels of oil a day. It is central to Saudi Arabia's strategy of shifting oil exports to the Red Sea to avoid the Strait of Hormuz, the Persian Gulf's sole exit, where Iranian attacks have stifled shipping.
Saudi Arabia blamed the attack on drones from Iranian-backed militias in Iraq, the reports said. The reports also said the US-Israeli war on Iran has forced the kingdom to shift its exports away from the Persian Gulf and rely on the East-West Pipeline.
In a separate development, Yemen's Houthi rebels seized more islands along Red Sea shipping routes, a move described as a new blow to Saudi Arabia's oil exports.
Oil prices gained more than 2% amid growing worries about global petroleum supplies. The developments squeeze the ability of Saudi Arabia, the world's biggest exporter, to get its crude to market.
- Saudi oil pipeline hit in strikes
- The Houthis vs Saudi Arabia
- Houthis attack
- Saudi oil pipeline
- Houthi rebels
- Yemen conflict
- Red Sea crisis
- West Asia conflict
- Saudi pipeline
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