Saudi Arabia resumes oil exports after repairing East-West oil pipeline

According to a source familiar with the matter, Saudi Arabia has completed repairs to a key international oil pipeline after a drone attack earlier this month and has now started exporting oil through the pipeline. Last week, the Saudi state oil giant Saudi Aramco had been testing and pressurizing the “East-West Pipeline” with the aim of restoring substantial oil shipments before the weekend. The source stated that overseas exports have now resumed. This resumption of operations will allow Saudi Arabia to regain an alternative export route previously used during the Iran war. Meanwhile, Saudi Arabia has also increased the volume of oil shipments through the Strait of Hormuz this month. This development will ease supply pressures for buyers. Previously, due to tight supplies, some European customers had been told that, under long-term supply contracts, they would not be able to receive any crude oil quotas next month.