Aramco: Without the East-West Pipeline, Oil Price Would Have Reached $200 per Barrel - Sarmad

Amin Nasser, CEO of Aramco, stated that the East-West pipeline prevented oil prices from reaching catastrophic levels, noting that Brent crude contracts would have hit $200 per barrel without this pipeline.

Nasser made these remarks while participating in the Energy Intelligence Forum in London, emphasizing that the East-West pipeline served as a vital artery for both Saudi Arabia and the world, enabling the Kingdom to transport oil to its terminals on the Red Sea and bypass the Strait of Hormuz, which Iran had effectively blocked since late February 2026.

Nasser said the world had lost approximately 3 billion barrels of oil supplies since the conflict began, with 1 billion barrels released from global reserves. He warned that replenishing these reserves could take up to two years.

He noted that the company was able to reach its full sustainable production capacity of 12 million barrels per day within days. Clarifying, Nasser said, “Our system is robust,” adding that the company possesses strategic reserves and flexibility that allow it to adjust production routes as needed.

Nasser’s estimate of $200 per barrel highlights the pivotal role the pipeline played in containing the crisis. With a capacity of 7 million barrels per day, the pipeline enables Saudi Arabia to transport oil from its eastern fields to the port of Yanbu on the Red Sea.