Oil crisis worsens after Saudi pipeline attack
The attack on the East-West Pipeline in Saudi Arabia, one of the most important oil export lines passing through the Strait of Hormuz, has caused it to be shut down for up to six weeks. The pipeline, which transports between 4 and 5 million barrels per day, accounts for about 4-5% of global supplies. Its closure led to rising oil prices and a significant reduction in global stocks, further aggravating the energy crisis and global inflation. The attacks had a greater impact than anticipated, as three pumping stations were damaged, complicating efforts to restart the line and increasing tensions in the global oil market.
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