Houthi drone attack: Saudi oil stocks could run dry soon if key pipeline remains shut

Saudi Arabia could run out of oil stocks for export within days if it fails to restart a major pipeline hit by drone attacks. The damage also threatens to remove up to 4% of global oil supply from the market, Saudi oil buyers and traders said.The kingdom has enough crude at the Red Sea port of Yanbu to maintain exports for only five to seven days, news agency Reuters reported, citing three industry sources familiar with Saudi shipments. The stocks could eventually run out if the pipeline remains offline.The east-west pipeline was shut on Friday after drone attacks damaged the route. It carries Saudi crude from the country's oil fields in the east to Yanbu on the Red Sea.Saudi Arabia has not said how badly the pipeline was damaged or when it could restart.The timeline of the report could vary, according to the sources cited in the report.