Saudi Arabia Boosts Oil Pipeline Flows to Record High

Saudi Arabia has significantly increased oil flows through its East-West Pipeline to more than 80% of capacity. According to a person familiar with the matter, Saudi Aramco is pumping close to 6 million barrels per day through the pipeline, which has a total capacity of 7 million barrels per day. After supplies are allocated to refineries on Saudi Arabia's west coast, approximately 4.5 million barrels per day remains available for export from the Red Sea coast.

The increased flow is due in part to lower domestic refinery demand, allowing more crude to be diverted towards export. The pipeline has played a crucial role in maintaining exports despite disruptions caused by the Iran war and recent incidents such as projectiles launched from Iraq that forced the pipeline to halt operations last month.