Attack Targets Saudi East-West Pipeline as OPEC Output Rebounds

The pipeline carries Saudi crude to the Red Sea port of Yanbu, which handled most of the kingdom’s export growth in October. The Saudi Ministry of Energy confirmed that the attack did not affect operations, but did not explicitly say whether the line sustained physical damage.

OPEC crude production increased by 1.38 million barrels per day in October to 22.87 million bpd, according to the Reuters survey. Saudi Arabia, Kuwait and Iraq led the rise. The group’s 11 members produced 25.48 million bpd in February, the last month before the war disrupted production and exports across the Middle East.

Bloomberg’s separate survey put October output at 22.8 million bpd, up 930,000 bpd from September and equal to 88% of February production. Saudi output rose by 970,000 bpd to 9.2 million bpd, exceeding OPEC’s net increase, but remained about 800,000 bpd below early-year levels. Iraq added 140,000 bpd to reach 4.15 million bpd, while Kuwait added 130,000 bpd to reach 2 million bpd. Iran’s production fell by 120,000 bpd to 1.9 million bpd, its lowest in Bloomberg survey data dating to 1989. No tankers have been seen at Kharg Island since late August, the report said.

The war has prevented OPEC+ from delivering the production increases it pledged. Members covered by the quota deal pumped about 25 million bpd in August, against a combined target of 31.01 million bpd. After raising quotas monthly from April, the group kept them unchanged for October and November, then extended the pause through December. Members are reviewing each country’s technical production capacity ahead of a November 29 ministerial meeting that will set 2027 output targets.