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Saudi Arabia has successfully restored its full oil pumping capacity through the East-West pipeline following recent attacks, reinforcing its position as a reliable global energy supplier. The Kingdom demonstrated exceptional readiness and a high response rate in managing the crisis's aftermath.
The Saudi stock market index (TASI) closed on Sunday with a decline of 28.5 points, equivalent to 0.25%, reaching 11314.6 points amid trading valued at 3.4 billion riyals. This drop occurs during a period of notable market volatility.
The Saudi Ministry of Energy announced today the successful restoration of operational capacity for the East-West pipeline after it was attacked, enhancing supply reliability. The operational and technical efforts have resulted in restoring full pumping capacity of approximately <strong>7 million barrels per day</strong>.
Saudi Aramco has inaugurated the Innovation Oasis in Khobar, aimed at enhancing future skills and developing the capabilities of youth in technology and innovation. This initiative marks a significant step towards achieving the Kingdom's Vision 2030.
The Saudi stock market index (TASI) experienced a slight increase of 0.3%, reaching 11,287 points, with liquidity recorded at 2 billion Saudi Riyals.
The Saudi financial market index, TASI, recorded a significant increase today, bolstered by strong performances from Aramco and Al Rajhi. This rise reflects investor optimism in the market.
Bloomberg forecasts that Saudi Aramco will raise its oil prices for buyers in May amid ongoing tensions in the Strait of Hormuz, a vital artery for global oil trade.