Shutdown of Saudi Pipeline Deepens Energy Crisis
Oil prices are climbing after Saudi Arabia shut down a key east-west pipeline following drone attacks, a precautionary measure after Thursday's attacks claimed by Houthis and possibly from Iraq. This shutdown comes as Saudi Arabia's oil exports in August 2026 were already at their lowest level since 2017, around 3 million barrels.
This pipeline shutdown, coupled with existing low export levels, is expected to further impact global energy prices and exacerbate market instability, potentially leading to crude surging to $150 a barrel if supply disruptions persist.
The episode also covers Asia stocks retreating on calls for an AI slowdown, Pakistan's LNG outlook, Modi forging BRICS consensus amidst the Iran war, and the outlook for global energy supplies.
SAUDI ARABIA OIL PIPELINE ENERGY CRISIS OIL PRICES MIDDLE EAST CONFLICT
