Saudi Arabia ramps up Gulf oil exports after pipeline attack, data shows
Aramco shifted cargoes to Gulf terminals and ship-to-ship transfers as satellite data showed 2.9 million barrels a day moving through Hormuz, JPMorgan said.
- On Sunday, Saudi Aramco loaded about 14 million barrels of crude onto seven supertankers near Ras Tanura, increasing Gulf export volumes after drone attacks disrupted shipments via the East-West Pipeline to the Red Sea.
- The September 11 drone strikes, which the Houthi movement claimed, disabled the 1,200km pipeline that normally carries 7 million barrels daily from Eastern Province fields to the Red Sea, cutting off the kingdom's primary bypass around the Strait of Hormuz.
- Satellite imagery confirmed seven Very Large Crude Carriers positioned at Ras Tanura on Sunday, the highest tanker count observed since at least June, according to data compiled from the European Union's Sentinel-2 satellite.
- Higher shipment volumes from the Gulf pushed the Brent benchmark below $100 a barrel on Monday for the first time since September 9, as markets reacted to signs of a partial recovery in Saudi exports.
- Federal Energy Minister Chris Bowen is preparing to fly to Saudi Arabia this week for talks with Prince Abdulaziz bin Salman, seeking a timeline for repairs to the critical pipeline infrastructure amid sustained supply concerns.
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49 Articles
Yemen's Houthis have already attacked the Saudi capital with ballistic missiles and drones over the weekend, and have also targeted a key oil terminal on the Red Sea. Last week, drones were launched from Iraq against a pipeline, which is already severely affecting several European oil refineries. Despite Riyadh's pleas, Trump ultimately will not help them.
Despite new Huthi attacks, Saudi Arabia's oil export is again rising significantly. At the same time, the oil price has fallen to the lowest level since 10 September.
Sydney Morning Herald
Pain at the pump: Saudi oil shock sends Australian fuel prices surging
The latest spikes at local fuel pumps come after drone attacks last week disabled Saudi Arabia’s East-West pipeline, closing off the oil-rich kingdom’s primary bypass around the Strait of Hormuz and deepening energy analysts’ fears that the global supply crunch could worsen.
The situation on the Middle East front escalates after a new serious incident that blows up fuel prices. The strategic East–West oil pipeline in Saudi Arabia, which transports up to 5 million barrels a day, was closed down following a massive attack by a drone king launched from Iraq. Global energy shock is already in Romania: the diesel has exceeded the threshold of 10 lei and 80 dollars per litre, and the gasoline is approaching 10 lei quickly…
Saudi Arabia shut down its East-West oil pipeline following a drone attack in the Red Sea, halting oil exports from Yanbu port. Saudi Arabia has now improved supplies by increasing oil exports from its eastern ports in the Persian Gulf. Satellite and shipping data showed that seven large oil tankers loaded with 14 million barrels of oil.
Saudi Arabia increases Gulf oil exports days after Houthis attack key pipeline
Saudi Arabia has increased crude loadings from Gulf terminals after drone attacks shut the East-West Pipeline. The shift suggests a partial export recovery, but disruption around the Red Sea and Strait of Hormuz remains a concern.
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