Saudi Arabia Restarts Red Sea Crude Oil Loadings
Saudi Arabia has restarted crude oil loadings at the Yanbu port on the Red Sea after the East-West pipeline resumed partial service, Reuters reported on Tuesday, citing vessel-tracking data and trade sources. Saudi Arabia shut down the East-West onshore pipeline for two weeks following drone attacks that damaged pumping stations on September 10. The pipeline that helps the Kingdom bypass the…
Saudi Arabia has resumed crude oil loadings at the Yanbu port on the Red Sea following the East-West pipeline's partial service resumption, according to Reuters. The pipeline had been shut down for two weeks due to drone attacks on September 10, but is now back to loading crude oil cargoes, easing the supply crunch in the Middle East.
Satellite imagery shows nearly 10 million barrels of crude oil loaded at Yanbu and Al Muajjiz terminals in September, with Aramco notifying customers about the loading schedule for October. This resumption is expected to increase global oil supply, despite potential threats from Houthi forces in the Red Sea.
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