Saudi Pipeline Attack Coincides With OPEC Output Recovery
An attack caused a brief fire on Saudi Arabia’s East-West pipeline as separate surveys showed OPEC crude output rose in October.
Key takeaways
- Saudi Arabia’s Energy Ministry reported no casualties or disruption to pipeline operations.
- Reuters and Bloomberg surveys both showed OPEC crude output rose in October.
Saudi Arabia’s East-West pipeline was targeted in Medina on Monday, causing a limited fire that emergency crews extinguished, the Energy Ministry said. There were no casualties or disruption to operations.
OPEC crude output rose by 1.38 million barrels per day to 22.87 million bpd in October, according to a Reuters survey, reaching 90% of its pre-war level. A separate Bloomberg survey put output at 22.8 million bpd, up 930,000 bpd from September and 88% of February levels.
Saudi Arabia led the increase in the Bloomberg survey, raising production by 970,000 bpd to 9.2 million bpd. The country’s output remained about 800,000 bpd below early-year rates, the survey found.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
