Four percent of global oil supply at risk of disruption

The closure of Saudi Arabia's East-West oil pipeline has raised fears of a major crisis in the global energy market. 

Saudi Arabia was forced to shut down the pipeline last Friday after a drone attack launched from Iraqi territory. It is not yet clear how long it will take to repair the damage and resume oil supplies. 

According to oil buyers and traders, if this pipeline is not commissioned quickly, about four percent of the total oil supply to the global market could be disrupted.

The global energy supply system has already been severely disrupted by the US war and the closure of the Strait of Hormuz. The disruption to the Saudi pipeline has further complicated the situation. 

Oil traders fear that oil stocks stored for export will quickly run out due to the closure of pipelines.

Source: Al-Jazeera.