Saudi Arabia Resumes Oil Loadings at Yanbu Port
Saudi Arabia has resumed crude oil loadings from its Red Sea port of Yanbu after repairing the East-West Pipeline following drone attacks.
The Government of Saudi Arabia has resumed crude oil loadings from the Red Sea port of Yanbu following the restart of the East-West Pipeline. Operations at the port had been halted since September 11, when drone attacks damaged the infrastructure. Saudi authorities attributed these attacks to Iraqi militias and Iran-backed forces.
The pipeline, which provides a strategic alternative to the Strait of Hormuz, resumed operations last Tuesday. Saudi Aramco notified customers of the October loading schedule on Monday. While current throughput is estimated between 2.65 million and 3.5 million barrels per day, analysts suggest it may take a month to return to the pre-attack level of 5.5 million barrels per day.
This restoration follows other regional recovery efforts, including the resumption of loadings at the Sidi Kerir terminal in Egypt on September 22 after a 10-day pause. To compensate for the Yanbu shutdown, loadings at the Ras Tanura facility in the Gulf recently increased to approximately 6.5 million barrels per day. The return of the East-West Pipeline is expected to ease pressure on global energy markets and support Middle Eastern exports disrupted by the conflict between the United States and Iran.
