Saudi restores Petroline flows to 5.8 million bpd, easing pressure on Hormuz
🛢 Saudi Arabia’s energy minister said the East-West Pipeline, or Petroline, is now transporting around 5.8 million barrels of oil per day, equivalent to nearly 83% of its roughly 7 million bpd design capacity.
🚢 The approximately 1,200-km pipeline carries oil from eastern Saudi Arabia to Yanbu on the Red Sea, helping the kingdom reduce its dependence on the Strait of Hormuz. Current flows are also well above the roughly 4 million bpd redirected through the route after the Iran conflict disrupted regional shipping.
📉 Petroline’s recovery is helping ease some of the geopolitical premium in oil markets, although risks have not disappeared. Sustaining these flows will depend on the pipeline, pumping stations and Yanbu facilities avoiding renewed disruption.
#OilMarket $CL
🛢 Saudi Arabia’s energy minister said the East-West Pipeline, or Petroline, is now transporting around 5.8 million barrels of oil per day, equivalent to nearly 83% of its roughly 7 million bpd design capacity.
🚢 The approximately 1,200-km pipeline carries oil from eastern Saudi Arabia to Yanbu on the Red Sea, helping the kingdom reduce its dependence on the Strait of Hormuz. Current flows are also well above the roughly 4 million bpd redirected through the route after the Iran conflict disrupted regional shipping.
📉 Petroline’s recovery is helping ease some of the geopolitical premium in oil markets, although risks have not disappeared. Sustaining these flows will depend on the pipeline, pumping stations and Yanbu facilities avoiding renewed disruption.
#OilMarket $CL
