Saudi oil reserves may deplete soon without pipeline restart
Saudi Arabia faces the risk of running out of its exported oil stockpile if a major pipeline, severely damaged by a drone attack, is not reactivated. This could result in a loss of up to 4% of the global supply. The threatened pipeline, which extends from east to west over a length of 1,200 kilometers, was set on fire and destroyed following Thursday's attack. Saudi Arabia has not yet confirmed how long it will be offline or the full extent of the damage. Meanwhile, global oil prices have risen sharply, with Brent crude surpassing $108 per barrel. This attack intensifies the global oil supply crisis, especially amid rising regional tensions in the area.
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