The pipeline was the only reliable export route for Saudi crude, free from Iranian control of the Strait of Hormuz.
“The pipeline
Reuters quoted an industry source as saying the attack was expected to affect pipeline deliveries and that damage assessments were ongoing.
“Iran's Islamic Revolutionary Guard Corps (IRGC) said in a statement on Wednesday they had hit several targets across the region with
Analysts have warned that the damage could worsen the global
energy crisis. Saudi state oil company Saudi Aramco consumes about 2 million
barrels a day domestically, leaving roughly 5 million barrels a day for export.
Shipment data showed loading at Yanbu averaged about 4.6 million barrels a day
the week that began March 23, near capacity, despite attacks on the hub on
March 19, Reuters noted.