Saudi Arabia Initiates Oil Flow Through East-West Pipeline Amid Hormuz Crisis

AI Summary

Following US and Israeli strikes on Iran, Saudi Arabia activated a contingency plan involving the 1,200-kilometer East-West pipeline to maintain oil exports. Crude exports from Yanbu reached a five-day rolling average of 3.66 million barrels, approximately half of Saudi Arabia’s total before the conflict. The Strait of Hormuz, normally facilitating 20 million barrels per day, faces closures, pushing Saudi Aramco to maximize utilization of alternative routes. This quick response underscores Saudi Arabia's role as a stabilizing force in global oil markets during geopolitical tensions.