Saudi Arabia shuts major oil pipeline following drone attack
Saudi Arabia has closed its critical 1,200-kilometer East-West oil pipeline following a drone attack launched from Iraq. The strike caused injuries and damage, prompting Iraq to dismiss a regional military commander and launch an investigation.
Why it matters
If the pipeline is not restarted within days, Saudi Arabia will run out of export stocks, potentially removing up to 4% of global oil supply and worsening a global fuel price crunch.
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