Kremlin Warns of Severe Consequences from Saudi Oil Pipeline Disruption on Global Supplies

Kremlin spokesman Dmitry Peskov expressed concern on Monday regarding the disruption of a Saudi oil pipeline, which led to a cut of more than 4% of supplies to global markets. During a press briefing, Peskov stated: "We are witnessing the loss of enormous quantities of oil; with the disruption of oil pipelines in Saudi Arabia alone, more than 4% of global supplies have been cut off from markets. Undoubtedly, this matter has severe consequences and must cause concern for global economies." He added: "The issue of lifting this ban will be put on the agenda once domestic market saturation is ensured, and then, it will be possible to export additional quantities to global markets."