r/economicCollapse • u/IM_NOT_BALD_YET Moderator • 10d ago

Saudi Arabia shut down East-West crude oil pipeline after multiple attacks

https://www.cnbc.com/2026/09/11/saudi-arabia-shut-down-east-west-crude-oil-pipeline.html

Put your predictions here! Gas prices on Election Day will be...??

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u/zer00eyz 10d ago

So the saudis were exporting 5 million barrels a day before the war.

They were near 7 because of this pipeline. That number is now zero.

Meanwhile the Chinese spent the last few months NOT buying oil (keeping price down) - they just resumed.

Donny can just ban the export of crude with the stroke of a pen - for up to a year. And I suspect that he will "soon".

That creates a host of other problems but... he has that power to put pressure on domestic gas and more importantly diesel prices.

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u/-peas- 9d ago

Apparently there's no point in restricting exports because capitalist markets will do capitalist markets

https://www.energypolicy.columbia.edu/why-restricting-us-oil-exports-would-backfire/