Saudi pipeline shutdown may raise India's crude import costs
after close1 source ↓written by the desknot a recommendation
- which began
- 10 September
- carrying
- 5 mbpd
- of global oil
- 4-5%
- and rising premiums
- $107
India could face a higher crude import bill if Saudi Arabia's East-West pipeline shutdown, which began on 10 September, extends. The pipeline, carrying 5 mbpd, represents 4-5% of global oil supply. With Brent crude around $107 and rising premiums on Russian oil, traders should monitor potential price impacts.
Not investment advice. For informational purposes only.