Kebler: Gulf Saudi oil shipments double to 3M bpd

Saudi Arabia's oil shipments from the Ras Tanura port doubled to around 3 million barrels per day during the second week of September, compared to about 1.5 million barrels in the first week, following damage to the East-West pipeline caused by drone attacks that led to its closure. Experts anticipate continued increases in exports from Ras Tanura, with the total from Ras Tanura and Al Jomaih reaching approximately 4 million barrels per day. Repairs are now gradually underway, and the full repair process is expected to take about six weeks, with expectations that the pipeline will resume operation soon. The rise in exports has caused Brent crude prices to reach their highest level since May at $110 per barrel before retreating after news of the pipeline’s near restoration.

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