Riyadh, Saudi Arabia – Buyers and traders of Saudi oil have warned that the Kingdom’s export-bound inventories could run dry within days if the key East-West pipeline, which transports crude to the Red Sea, does not resume operations. This threatens a loss of up to 4% of global oil supplies, according to Reuters.
Stocks sufficient for 5 to 7 days
A drone attack on Friday led to the shutdown of the pipeline. Saudi authorities have not yet disclosed the full extent of the damage or the expected duration of the outage. Reuters cited three…
