Saudi East-West pipeline expected back online within days, US energy chief says
US Energy Secretary Chris Wright says crude should flow through Saudi Arabia's East-West pipeline within days after attacks forced its closure.
Crude oil is expected to resume flowing through Saudi Arabia's East-West pipeline within days, US Energy Secretary Chris Wright said on Tuesday, after attacks by Iran-aligned groups forced the kingdom to shut the key export route temporarily.
Speaking to CNBC on the sidelines of a G20 energy meeting in Houston, Wright said the timeline was still being assessed but would likely be "measured in days." He added that Saudi Arabia is taking steps to move more oil out of the Strait of Hormuz, with assistance from the US military.
The 1,200-km (745-mile) pipeline runs across the Arabian Peninsula and has served as the main outlet for Middle Eastern oil supplies over the past six months, while the strait between Iran and Oman has been largely closed by the US war on Iran. The pipeline had been carrying 4 million to 5 million barrels per day, equivalent to 4% to 5% of global supply, shielding Saudi Arabia from the worst of a disruption that has hit other Gulf oil and gas exporters hard.
Washington has so far declined Saudi requests for direct military intervention beyond intelligence support, according to three sources. US President Donald Trump said over the weekend that he had spoken with the Saudi crown prince, and that the Iran-aligned Houthis, who have launched missile and drone attacks on the kingdom from Yemen, had also contacted Washington to urge it to stay out of the conflict.