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Market move▲ Bullish for Indian equities
Oil slides as Saudi Arabia boosts flows via key pipeline
The brief
- Oil prices slid as Saudi Arabia restored partial capacity on its East-West pipeline
- The restoration affected global oil supply
- Lower crude prices can improve margins for Indian oil marketing companies and ease fuel-cost pressure
Saudi Arabia’s East-West oil pipeline
Saudi Arabia resumed oil exports through its East-West pipeline after repairs, boosting shipments and restoring partial capacity. Brent traded near $108 per barrel after exports resumed.
Wednesday, 30 September
- Oil slides as Saudi Arabia boosts flows via key pipeline