Saudi Arabia has resumed oil transit bypassing the Strait of Hormuz – Bloomberg

Saudi Arabia has resumed oil exports via the East-West Pipeline following repairs carried out after drone attacks in early September. Currently, the pipeline is transporting about 3.5 million barrels per day out of a total capacity of about 7 million barrels.

The restoration of this route allows Riyadh to once again use an alternative export route that bypasses the Strait of Hormuz. Some of the oil is being routed to the port of Yanbu on the Red Sea coast, although this route is also under threat due to intensified attacks by Yemeni Houthis on energy infrastructure.

Amid the ongoing military conflict with Iran and risks to shipping, global oil prices remain high, hovering near $107 per barrel. In September, Riyadh increased its total export volume to over 5 million barrels per day, directing most of its shipments to Asian countries.

Source: Bloomberg.

The Iran-backed Houthi movement in Yemen attacked energy facilities and civilian infrastructure in Saudi Arabia. Saudi authorities reported 73 people wounded. According to the kingdom’s military and Ministry of Energy, the drone and missile strikes caused fires at oil facilities and a temporary shutdown of some operations.

The Yemeni Houthis claimed to have carried out a drone strike on the Saudi Aramco oil refinery in Jazan, in southwestern Saudi Arabia.