Saudi Arabia boosts oil flow through East-West pipeline

Saudi Arabia has increased oil flows through the main "East-West" pipeline to more than 80% of its capacity, following the highest exportable volumes from the Western Coast since the outbreak of the war, with reduced supplies allocated to local refineries. The company produces approximately 6 million barrels per day via the pipeline, which has a capacity of 7 million barrels, and available export flows have risen to around 4.5 million barrels per day after deducting supplies designated for domestic refineries. The oil flow through the pipeline was ramped up again after it was halted last month due to an Iraqi missile strike. Saudi Arabia has become more reliant on shipments through the Strait of Hormuz, which has helped boost exports and led to a decline in oil prices. Brent crude has fallen below $100 per barrel amid fears of escalating tensions in the region.

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