Saudi Arabia reroutes oil through Strait of Hormuz after drone attacks shut down key pipeline

Saudi Arabia is funneling crude oil shipments through the Strait of Hormuz after drone strikes knocked out its primary alternative export route, the East-West Crude Oil Pipeline known as Petroline. The pipeline, which stretches 1,200 km from eastern oil fields to the Red Sea port of Yanbu, was shut down on September 10 following attacks on pumping stations in the Riyadh and Medina regions. What happened and why it matters Saudi officials attributed the strikes to drones launched from Iraq’s Maysan province. Rather than retaliating immediately, the kingdom said it was respecting a request from Iraq’s prime minister for time to address the situation domestically. Satellite imagery confirmed major damage, including fires at pumping stations along the route. Before the attack, the Petroline was moving 4 to 5 million barrels per day. That represents roughly 4% to 5% of global oil supply flowing through a single piece of infrastructure. Its design capacity is even higher, at up to 7 million bpd. Repair estimates range from three to six weeks. Storage capacity at the Yanbu port, the pipeline’s western terminus, can only sustain five to seven days of exports at current consumption rates. B...