Saudi Pipeline Outage Threatens 4% of Global Oil Supply

Saudi Arabia's oil supply may be severely impacted as a critical pipeline to the Red Sea remains shut due to drone attacks, potentially removing 4% of global supply from the already strained market. The country's oil inventories for export are at risk of being depleted within days unless the pipeline is restarted. This has significant implications for the global oil market, already facing challenges from supply chain disruptions and strong demand.