Crude oil will resume flowing through Saudi Arabia's critical East-West Pipeline within days, U.S. Energy Secretary Chris Wright said Tuesday, downplaying fears of an extended disruption to global energy supplies.
Speaking to CNBC on the sidelines of a G20 energy ministerial meeting in Houston, Wright described the closure as a short-lived setback resulting from recent aerial attacks.
"This will be a brief and temporary interruption," Wright told CNBC. "It's still a detailed assessment, but I think it will be measured in days."
Saudi officials shuttered the 1,200-kilometer (745-mile) conduit late last week after drone strikes launched by Iran-backed proxy groups caused damage along the route. The pipeline carries between 4 million and 5 million barrels of crude per day across the Arabian Peninsula to Red Sea export terminals, representing roughly 4% to 5% of worldwide crude supply.
The pipeline serves as Riyadh’s primary strategic bypass around the Strait of Hormuz, where tanker traffic has faced severe interruptions over the past six months. Wright noted that while technical crews complete repairs, the kingdom is coordinating with the U.S. military to escort and reroute select maritime shipments through the strait.
Industry estimates have diverged on how quickly the asset can return to full capacity. Sources cited by Reuters indicated that structural assessments could stretch repairs from several weeks up to six weeks, though partial pumping may resume ahead of a full structural restoration.
