Investing.com -- Saudi Arabia's oil exports through the Red Sea remain unchanged following a drone attack on a cross-country pipeline on Wednesday, according to the state-run Saudi Press Agency.

The attack, which occurred hours after a ceasefire was declared in the Iran war, damaged one of 11 pumping stations along the 746-mile conduit connecting oil fields in the east to the Red Sea coast in the west. The strike reduced throughput by 700,000 barrels a day, an energy ministry official said Thursday.

The impact on exports from terminals at Yanbu has not yet materialized, as oil takes several days to pass through the pipeline. The kingdom may maintain export levels by reducing the amount of crude sent to local refineries, power stations and water desalination plants, which are also supplied through the link.

The pipeline has a nameplate capacity of 7 million barrels a day and serves as the only major alternative to shipping tankers through Hormuz. About 2 million barrels a day are used within Saudi Arabia, leaving a possible 5 million for export.