Houthi drone attack: Saudi oil stocks could run dry soon if key pipeline remains shut

Saudi Arabia faces the prospect of depleting its oil stocks for export as early as within days if a key pipeline remains shut following a drone attack. The pipeline, which transports crude from eastern oil fields to the Red Sea port of Yanbu, has become vital for the world's largest oil exporter to circumvent the disruption in the Strait of Hormuz.

With Saudi Arabia's current stock at Yanbu only sufficient for five to seven days of exports, the pipeline's shutdown threatens to remove up to 4% of global oil supply. While estimates vary on the timeline for repairs, ranging from five to six weeks to a shorter duration, the loss of this alternative route could further tighten global oil supplies and contribute to elevated prices.