Business
Saudi Arabia Shuts Key Crude-Oil Pipeline
Saudi Arabia’s Energy Ministry said the East-West pipeline was hit several times Thursday in attacks that caused a number of injuries and led the kingdom to shut it down. The crucial pipeline carries crude from Saudi Arabia’s producing heartland on the Persian Gulf to Yanbu on the Red Sea, bypassing the blockage in Hormuz.
Saudi Arabia’s oil industry was already reeling. The kingdom’s crude-oil production fell to its lowest level in more than three decades last month, dropping by 2.3 million barrels to 6 million barrels a day in August, the International Energy Agency said in a report Friday. Saudi Arabia produced around 9.4 million barrels a day on average last year.
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