Aramco seeks to reduce reliance on Strait of Hormuz by expanding East-West crude oil pipeline capacity
- 1Aramco is working to increase its East-West crude oil pipeline capacity from its current capacity of approximately 7 million barrels per day to a target capacity of 10 million barrels per day.
- 2Prince Abdulaziz bin Salman announced that the pipeline expansion will take approximately 2 to 3 years.
- 3Gilbert Metcalf said that if pipeline flow can be increased to Aramco's target capacity of 10 million barrels per day, it would supply about 2% more crude oil to the global market.
So what's the key point?
Aramco is planning to increase the capacity of its oil pipelines to 10 million barrels per day. This could increase the global oil supply by about 2%.
Source Yahoo Finance +1 · View original ↗
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