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World & Business

Saudi pipeline outage reportedly takes roughly 2.5 million barrels a day off the oil market

A post citing The Wall Street Journal describes shrinking inventories and depleted emergency buffers. It says Washington is looking to Venezuelan production and expanded U.S. refining capacity to ease the pressure.

TI
1 Source, 16d ago, first seen 16d ago

TLDR

A post citing The Wall Street Journal describes a global fuel shock amid shrinking inventories and depleted emergency buffers. The post says attacks knocked Saudi Arabia’s East-West Pipeline offline, removing roughly 2.5 million barrels of oil per day from an already strained market. It says Washington considers the disruption temporary and is looking to Venezuelan production and expanded U.S. refining capacity for relief, while oil executives warn that remaining buffers have largely been exhausted.

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41.5K

1 Source, first seen 16d ago

914 likes16 comments75 saves123 reposts

Combined views

41.5K

1 Source, first seen 16d ago

914 likes16 comments75 saves123 reposts

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1 Source

@TheIranianzg3zBREAKING: The global fuel shock that oil executives warned about has now arrived, with shrinking inventories and depleted emergency buffers leaving markets increasingly exposed, the Wall Street Journal reports. The crisis deepened after attacks knocked Saudi Arabia’s East-West Pipeline offline, removing roughly 2.5 million barrels of oil per day from an already strained market. Washington says the disruption is temporary and is looking to Venezuelan production and expanded U.S. refining capacity to ease the pressure. But oil executives warn the remaining buffers have largely been exhausted.
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    1 Source

    @TheIranianzg3zBREAKING: The global fuel shock that oil executives warned about has now arrived, with shrinking inventories and depleted emergency buffers leaving markets increasingly exposed, the Wall Street Journal reports. The crisis deepened after attacks knocked Saudi Arabia’s East-West Pipeline offline, removing roughly 2.5 million barrels of oil per day from an already strained market. Washington says the disruption is temporary and is looking to Venezuelan production and expanded U.S. refining capacity to ease the pressure. But oil executives warn the remaining buffers have largely been exhausted.
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