Μake us preferred on Google Saudi Arabia has informed its European customers that some crude oil shipments due in late September will be cancelled because of attacks, according to three sources who spoke to Reuters News Agency.
Damage to three pumping stations on the strategic East-West pipeline is far more extensive than first estimated, with repairs expected to take several weeks and up to 4% of global oil supply potentially affected, according to Reuters sources.
The world’s largest crude oil exporter shut down its East-West pipeline following an attack last week and is also facing disruption from Houthi attacks in the Red Sea and ongoing shipping disturbances in the Strait of Hormuz.
Three pumping stations along Saudi Arabia’s East-West crude oil pipeline sustained significant damage, far greater than initially estimated. Saudi authorities are working to repair the affected facilities, but restoring them could take several weeks.
According to reports, satellite imagery revealed extensive damage to the strategically important pipeline following the recent attacks. Saudi authorities have not disclosed the extent of the damage to the pipeline, which runs to the Red Sea.
Oil buyers and traders reportedly believe the kingdom may be forced to draw down oil reserves earmarked for export, given the disruption to one of its main export routes.
According to the reports, a prolonged shutdown of the pipeline could affect up to 4% of global oil supply, while satellite images showed a pumping station that appears to have suffered extensive fire damage and severe destruction.
