Saudi Arabia faces a potential halt in its oil exports due to the closure of its major East-West pipeline. This shutdown occurred following drone attacks, reportedly by Iran-backed militants in Iraq.
The Saudi government announced the pipeline closure as a precautionary measure. Details regarding the damage and the timeline for resuming operations remain undisclosed.
The pipeline runs across the Arabian Peninsula, enabling Saudi Arabia to transport 4 million barrels of oil daily to the Red Sea port of Yanbu. This route became crucial after the Strait of Hormuz closure due to conflict in Iran.
Experts from the energy industry, referenced by Reuters, suggest that repairs could last up to six weeks. This situation might threaten about 4% of the global oil supply.
Currently, Yanbu may only sustain exports for five to seven days without this pipeline, according to reports from industry sources.
Newsweek reached out to the Saudi government for further commentary.
This unfolding situation will receive updates as more information becomes available.
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