Saudi Arabia risks running out of crude oil stocks for export within\ndays after a drone attack paralysed a critical pipeline used to bypass\nthe Strait of Hormuz. The kingdom is reported to hold only enough crude\nreserves at the Red Sea port of Yanbu to maintain current export levels\nfor roughly five to seven days without fresh supplies through the\nEast-West Pipeline.<\/p>\n
Should the pipeline remain incapacitated, the world risks losing up\nto 4% of total global oil supply. Energy public policy analyst David\nBlackmon said damage to the 750-mile Saudi Aramco pipeline appears far\nmore severe than the previous incident last April.<\/p>\n
Before the attack, the East-West Pipeline carried around four million\nbarrels of crude per day to Yanbu. Industry estimates for the pipeline\u2019s\nrecovery vary. Some sources say repairs could take five to six weeks,\nwhile others hope partial operations can resume more quickly.<\/p>\n
The situation worsens an already tight global oil market. According\nto the International Energy Agency\u2019s (IEA) September oil market report,\nglobal oil supply is projected to fall by 5.7 million barrels per day in\n2026, or around 6 per cent.<\/p>\n
The East-West Pipeline, also known as the Petroline, plays a vital\nrole as an escape route to avoid the conflict-prone Strait of Hormuz.\nHowever, the pipeline\u2019s closure comes as Iran-aligned Houthi forces\nescalate attacks on Saudi energy facilities and advance along Yemen\u2019s\nRed Sea coast towards the Bab el-Mandeb Strait.<\/p>\n
Satellite data shows large plumes of smoke along the pipeline in the\nSaudi desert between Madinah and Mahd adh Dhahab. The attack forces\nSaudi Arabia, whose crude supply has already fallen to a three-decade\nlow of around six million barrels per day in August, into an\nincreasingly difficult position.<\/p>\n
The energy crisis in the Middle East is beginning to be felt by\nconsumers worldwide, including in the United States. The national\naverage price for diesel has exceeded US$6 per gallon (around Rp92,000),\nup 63% compared with last year.<\/p>\n
The rise in fuel costs has a direct impact on food and logistics\nsupply chains.<\/p>\n
The IEA described flows through the Strait of Hormuz as severely\nimpeded. Diesel and oil exports from the Gulf have reached only a\nquarter of pre-war levels. Full recovery of Middle East oil supply is\nnow not expected until 2027.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/saudi-oil-supply-threatened-as-main-pipeline-attacked-1789483883", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }