23 Hrs
Source:
الاقتصادية
Saudi Arabia to Restart East-West Oil Pipeline
Saudi Aramco has informally notified some Asian refining companies that it will soon be able to load oil shipments from the Yanbu port on the Red Sea, following a halt in loading operations since the drone attack on the East-West pipeline on September 10, which stopped approximately 4 million barrels per day. The pipeline shutdown caused delays in loading schedules, especially for Asian companies, while Europe was affected even more due to its reliance on Yanbu port shipments. Saudi Arabia expects to resume oil transportation via the pipeline as soon as possible, although no official updates have been issued yet. Oil prices rose today as selling positions diminished and bets on a decline waned.
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