US energy chief says Saudi Arabia oil pipeline should be back online within days

Crude oil should be flowing through Saudi Arabia’s vital East-West Pipeline within days, US Energy Secretary Chris Wright tells CNBC, after the kingdom was forced to temporarily close it following attacks by Iran-aligned groups.

“It’s still a detailed assessment, but I think it will be measured in days,” Wright says on the sidelines of a G20 energy meeting in Houston. He says Saudi Arabia is taking steps to move more oil out of the Strait of Hormuz with assistance from the US military.

Sources that speak to Reuters give varying estimates of how long the pipeline will be offline, with ​one saying the damage could take as long as five to six weeks to repair. Another says it could be fixed sooner ​and resume pumping partially while repairs take place.

The 1,200-km (745-mile) East-West Pipeline running across the Arabian Peninsula has served as the main route for global supplies of Middle Eastern oil for the past six months while the strait between Iran and Oman has been largely shut by the Iran war. The pipeline had been moving 4 million to 5 million barrels per day, amounting to 4% to 5% of global supply, sparing Saudi Arabia the brunt of the disruption that has crippled other Gulf oil and gas exporters.