Saudi Arabia’s oil production falls by 600,000 barrels per day
As a consequence of the conflict in Iran, Saudi Arabia is currently producing 600,000 fewer barrels of oil
The Saudi Arabian Ministry of Energy announced last week that the country has reduced its total oil production capacity by 600,000 barrels per day due to the conflict in Iran, which has led to the suspension of operations at some of the country’s main energy facilities.
The local authority stated that “the Manifa oil processing plant, located in the Eastern Province on the country’s east coast, has suffered a reduction of approximately 300,000 barrels per day in its production capacity due to the attacks it has sustained.”
The attacks have also affected “a pumping station on the 1,200-kilometer East-West pipeline that connects the Abqaiq oil field in the Eastern Province, across the Arabian Peninsula to Yanbu,” resulting in losses of approximately 700,000 barrels per day in the volume pumped through this infrastructure.
The country’s authorities have identified energy sectors affected by the escalation of hostilities in the region, including “production, transportation, petrochemical, and oil and gas refinery facilities, as well as the electricity sector in Riyadh, the country’s capital, the Eastern Province, and the industrial port city of Yanbu.”
M.Pino
Source: bolsamania
(Reference image source: WORKSITE Ltd. on Unsplash)
Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram
