Saudi Arabia loaded 8.7 million barrels of crude oil at its east coast terminals today, according to TankerTrackers data cited by a regional monitoring source. The move signals a redirection of exports back toward the Strait of Hormuz after the destruction of the East-West Pipeline, which forced the closure of the Red Sea port of Yanbu.
Saudi Arabia loaded 8.7 million barrels of crude oil at its east coast terminals early Wednesday, redirecting exports back toward the Strait of Hormuz, according to TankerTrackers data cited by a regional monitoring source. The move appears to be a direct response to the destruction of the East-West Pipeline, which cut the kingdom's primary alternative route to the Red Sea.
As The Zioneer has reported, the East-West Pipeline was struck by drones originating from Iraq on September 11, with a second attack 48 hours later. The damage forced a complete shutdown of the pipeline and the closure of the Yanbu export terminal on the Red Sea. Analysts have warned that repairs could take five to six weeks, threatening up to 4% of global oil supply.
The shift to east coast loading and Hormuz transit carries renewed risks due to periodic Iranian threats in the strait, but allows Saudi Arabia to maintain export volumes while the pipeline is offline. The loaded volume represents roughly a day's worth of Saudi production, signaling that key export capacity remains available despite the infrastructure disruption.
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