Houthi Drone Strike on Saudi Pipeline Puts 4% of Global Oil Supply at Risk
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·59 viewsSaudi Arabia is facing a serious threat to its oil exports after Houthi drone attacks forced a key east-west pipeline to shut down. The pipeline is a critical route for oil shipments as it bypasses the strategically sensitive Strait of Hormuz. Saudi Arabia reportedly has only a few days of export oil stocks remaining, raising urgent supply concerns. The disruption could remove approximately 4% of global oil supply from markets. The crisis is compounded by the fact that Saudi oil production had already fallen to its lowest level in thirty years.
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