Saudi Arabia confronted a deepening energy crisis as its critical East-West oil pipeline faced a six-week shutdown beginning in mid-September, caused by attacks from Iran-backed Houthi fighters who have gained control of a vital shipping strait. Crown Prince Mohammed bin Salman faced mounting pressure as the US-Iran conflict escalated and threatened regional oil supplies.
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The US-Iran war has reached crisis point for Saudi Arabia and its de facto leader, Crown Prince Mohammed bin Salman.
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MBS and Saudi Arabia Face Crisis With Key Oil Pipeline Shut for Weeks https://www. bloomberg.com/news/articles/20 26-09-15/mbs-and-saudi-arabia-face-crisis-with-key-oil-pipeline-shut-for-weeks ? # Saudi # IranWar # Bloomberg
The US-Iran war has reached crisis point for Saudi Arabia and its de facto leader, Crown Prince Mohammed bin Salman, as the Houthis started firing at the kingdom on a near-daily basis this month. The hostilities had already pushed Saudi oil production to the lowest level in decades and they now threaten to complicate the kingdom’s multi-trillion dollar plans to diversify the economy. Bloomberg's O
Saudi Oil Crisis Deepens As Key Pipeline Faces Six-Week Closure Saudi Arabia is headed for an energy and security crisis as its critical East-West oil pipeline will be shut for six weeks amid intensifying Houthi attacks on the kingdom. READ MORE
Oil extended the biggest drop in more than six weeks on signs of easing Middle East supply disruptions, with a key pipeline being restored.