Why Saudi Arabia’s East-West pipeline matters for global oil?
A fresh crisis in oil supplies has emerged following a drone attack on Saudi Arabia's vital 'Petroline' pipeline. As the pipeline serves as an alternative route for oil exports that bypasses the Strait of Hormuz, its continued closure could increase supply pressures on both Saudi Arabia and the global market. There are also concerns that oil prices could soar to as much as $150 per barrel if the situation persists.
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