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Source:
الوطن
Saudi pipeline closure impacts global oil
The shutdown of Saudi Arabia's main oil pipeline, which transports around 4 million barrels per day—equivalent to 4% of global supplies—threatens the loss of that amount of oil, potentially leading to a reduction in worldwide oil supplies by up to 4%. This stoppage comes at a time when the oil market is already experiencing a decline in Saudi exports to their lowest level in over three decades, due to reduced flows through the Strait of Hormuz and the Red Sea, which has led to a global increase in fuel prices and heightened inflation. The pipeline is one of Saudi Arabia's most vital oil infrastructure, providing a strategic route for transporting oil directly to global markets, bypassing the Strait of Hormuz. Its closure has a negative impact on global energy security.
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