Saudi Arabia could exhaust the oil inventories available for export unless a major pipeline damaged by drones resumes operations within days, according to buyers and traders of Saudi crude. They warned that the disruption could remove as much as 4% of oil supplies worldwide.
Satellite imagery made public late Sunday appeared to reveal extensive fire damage at a pumping facility along the 1,200-kilometre conduit, which carries oil westward across Saudi Arabia to the Red Sea. The drone strikes occurred Friday, and Saudi authorities have not yet detailed the damage. Further information is expected as events unfold.
