Saudi Arabian oil pipeline system hit by projectiles triggering fires
- On Thursday, projectiles struck a key Saudi East-West pipeline system, hitting pumping stations according to US officials, while Friday satellite imagery confirmed extensive fire damage.
- With Iran effectively shuttering the Strait of Hormuz, the pipeline became essential to the Kingdom, leading Saudi Arabia to reroute about 5 million barrels of oil daily toward its Red Sea port of Yanbu.
- Following Houthi attacks over the past 24 hours, US officials noted the strike involved drones originating from Iraq, and Behnam Ben Taleblu of the FDD noted Iranian-aligned militias have used drones previously.
- Oil prices surged past $100 a barrel this week following the incident, and Saudi Arabia recently reported to OPEC that crude production plunged to the lowest levels since 1990.
- Endangering the Red Sea export route, Houthi fighters have targeted shipping near Bab al-Mandeb, while US officials and experts suggest repairing pump stations may prove less burdensome than fixing major pipeline damage.
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This energy transport route is vital for the stability of international markets, with an operating capacity of seven million barrels per day that cross the entire territory of the kingdom to the export terminals located in the Red Sea.
So far, Saudi Arabia has been able to bypass the disturbances in the Strait of Hormus with the help of a pipeline. After a drone attack, Riyadh has to shut them down. Together with the control of the Huthi over the Strait Bab al-Mandab, the situation for the Kingdom is worsening.
International energy markets were shocked after the Kingdom of Saudi Arabia announced
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No one has claimed responsibility for the attack on the pipeline that transports four to five percent of the world's oil consumption.
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