RIYADH: Saudi Arabia has fully restored operations of its key East-West oil pipeline, which had been temporarily suspended following drone attacks by the Houthis.
According to reports by international news agency Reuters, the restoration of the pipeline is expected to pave the way for crude oil exports from the Red Sea port of Yanbu to resume as early as today.
The pipeline was temporarily shut down by Saudi authorities on September 13 following drone attacks carried out by the Houthis, amid security concerns. The suspension also led to the halting of crude oil loading operations onto vessels at Yanbu port.
Following news of the pipeline’s reactivation, crude oil prices in international markets witnessed a notable decline.
Saudi Arabia transports approximately 4 million barrels of crude oil per day through the pipeline to Yanbu, a major port on the Red Sea coast.
