Saudi Arabia’s Ministry of Energy has announced that, following a drone attack on facilities linked to the country’s oil pipeline in Iraq, it has temporarily suspended operations of the East-West oil pipeline as a precautionary measure.
According to Reuters, the pipeline is approximately 1,200 kilometers long and runs across the Arabian Peninsula. The route allows Saudi Arabia to transport part of its oil exports without passing through the Strait of Hormuz.
The suspension comes as tanker traffic through the Strait of Hormuz has sharply declined due to the war between the United States and Iran. The Strait of Hormuz is considered one of the world’s most important routes for oil transportation.
Reuters reported that the pipeline shutdown could increase concerns over global oil supplies and, if the disruption continues, create conditions for further increases in oil prices in global markets.
Saudi Arabia is one of the world’s largest crude oil exporters, and any disruption to the country’s oil transportation or exports could affect the global energy market.
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