Saudi Aramco Ramps Up Gulf Oil Loadings in Response to Pipeline Attack

Saudi Arabia has significantly increased crude oil loadings from its Mideast Gulf terminals following a drone attack that disrupted shipments along its vital East-West Pipeline to the Red Sea.

Data from oil-tracking firm TankerTrackers.com showed that state-owned Saudi Aramco loaded approximately 14 million barrels of crude onto seven Very Large Crude Carriers inside the Mideast Gulf on Sunday.

Satellite imagery confirmed the presence of seven supertankers anchored near the kingdom's major Ras Tanura export facility.

The surge in eastern loadings signals a partial recovery in Saudi crude exports, which helped push Brent crude prices below $100 a barrel on Monday for the first time since Sept. 9.

The strategic shift follows the shutdown of the East-West Pipeline on Sept. 13 after a drone strike halted operations at the Yanbu export terminal on the Red Sea.

In response to the pipeline disruption, Aramco canceled several crude deliveries to European customers while redirecting volumes toward Asian markets by increasing shipments from ports east of the Strait of Hormuz.

Prior to the attack, Saudi crude loadings at Red Sea ports averaged 3.9 million barrels per day between Sept. 1 and Sept. 11, according to energy tracking company Vortexa.

Following the pipeline shutdown, Gulf loadings rose to an average of about 3.7 million bpd after Sept. 12, up from 2.9 million bpd earlier in the month.

An Aramco spokesperson declined to comment on the increased tanker activity.

However, analysts at J.P. Morgan noted in a Sept. 18 report that satellite tracking indicated Saudi oil moving through the Strait of Hormuz climbed to 2.9 million bpd over a six-day period, compared to 700,000 bpd in August.

Trade sources also reported that Saudi Arabia sold roughly 60 million barrels of crude from Ras Tanura for ship-to-ship transfers at the Omani port of Sohar scheduled for this month and next.