Saudi Arabia restores East-West pipeline flows to 5.8 million bpd, energy minister says

Saudi Arabia has restored oil flows through its East-West pipeline to 5.8 million barrels per day following attacks by Houthi rebels, Energy Minister Abdulaziz bin Salman announced at the Made in GCC Forum in Bahrain. The pipeline, which has a capacity of up to seven million barrels per day, was halted last month after the attack but engineers have managed to restore the flow and replenish global supplies disrupted by the Strait of Hormuz blockade.

Prince Abdulaziz emphasized the importance of resilience and localisation, noting that Gulf countries have learned valuable lessons from past supply chain disruptions. He stressed the need for industries to develop products that can meet local demand, rather than relying on imports. Bahrain's Minister of Industry and Commerce, Abdulla bin Fakhro, echoed these sentiments, calling for deeper industrial integration in the region.

The Gulf currently imports over $600 billion worth of goods annually, but intra-GCC merchandise trade is only about $46 billion. Bin Fakhro urged Gulf countries to move towards manufacturing more products domestically, creating skilled jobs, and strengthening their ability to withstand future shocks.