Al Jazara
روایت خاورمیانه 
A drone attack on the east-west oil pipeline in Saudi Arabia, known as Petroline, was carried out in the early hours of Saturday, October 13, 2023, at two points along this vital artery. This pipeline, which is 1,200 kilometers long, transports between 4 to 5 million barrels of crude oil daily from the Baqi oil fields in eastern Saudi Arabia to the port of Yanbu on the Red Sea coast.
Details of the Attack and Damages
According to initial information, these attacks led to a precautionary suspension of operations on this pipeline, and several people were injured in the incident. Saudi officials stated that the drones originated from the Maysan province in southeastern Iraq. The exact extent of the damage and the timeline for reopening the pipeline are still unclear, and various sources have provided differing estimates in this regard.
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While some sources report that the reconstruction of this pipeline may take 5 to 6 weeks, others suggest a quicker resumption of operations. This attack follows the targeting of the joint Aramco and ExxonMobil refinery in the port of Yanbu in March of this year, highlighting the vulnerability of oil infrastructure in western Saudi Arabia.
Economic Consequences and the Global Oil Market
The blockage of the Petroline pipeline comes at a time when oil transit through the Strait of Hormuz has sharply decreased from 20 million barrels per day to about 6 to 9 million barrels. The removal of this pipeline from operation severely limits Saudi Arabia's maneuverability to compensate for supply shortages in the global market. Additionally, the existing reserves at the port of Yanbu can only support 5 to 7 days of exports.
According to estimates by the International Energy Agency, global oil supply will decrease by 5.7 million barrels per day (equivalent to 6% of total global supply) this year. Although Brent oil prices have remained in the range of $70 to $90 due to the release of strategic reserves, experts and analysts warn that the continuation of these disruptions and the reduction of strategic reserves could drive the price of Brent oil to $150 per barrel.
Given the current situation, it seems that Saudi Arabia must quickly devise measures to mitigate this crisis to prevent negative impacts on the global oil market.
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