In another blow to global oil markets, drones struck Saudi Arabia’s East-West oil pipeline last Thursday, prompting the kingdom to suspend operations. The 1,200km (746-mile) pipeline, which carries roughly 4 to 5 million barrels of oil per day (bpd), links the country’s major oil-producing fields in the east with the Red Sea port of Yanbu, allowing Saudi Arabia to bypass the Strait of Hormuz, which has largely been closed since the outbreak of the US-Israel war. Saudi Arabia’s Ministry of Energy said the shutdown was a “precautionary” measure after the attack caused damage and injuries in the Riyadh and Medina regions.
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