Saudi Arabia boosts oil exports to 6 million BPD
The Kingdom of Saudi Arabia has increased oil flows through the East-West pipeline to approximately 6 million barrels per day, surpassing 80% of its operational capacity of 7 million barrels, following a temporary decline caused by the pipeline being hit by projectiles launched from Iraq last month. This increase allows for the export of about 4.5 million barrels per day from the kingdom’s western coast via the Red Sea, avoiding reliance on the Strait of Hormuz, especially after the pipeline was halted during the week. This rise has helped restore export levels to pre-war levels, despite the decline in oil prices to below $100 per barrel.
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