Saudi Arabia is seeking to return about half the capacity of its cross-country oil pipeline within days after the link was halted last week following drone attacks, Bloomberg reported citing a person familiar with the matter.
State-run Saudi Aramco is working to bypass a damaged section on the route that will allow it to resume part of the pipeline’s capacity, the person said.
The company is looking to return the conduit to its full capability in about six weeks, they said.
The timelines for the East-West pipeline’s resumption and the volume of oil it can carry for export are being closely watched by traders after the link turned into a lifeline during the Iran war as Saudi Arabia used it to circumnavigate the severely disrupted Strait of Hormuz.
Last week’s halt put millions of barrels a day of exports at risk at a time when markets are clamoring for supply, with crude above $107 in London.
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