It seems most people don't understand how severe the energy situation is right now in the Middle East. As of Friday, Saudi Arabia's East-West pipeline has officially been shut down after recent attacks, putting -4 million barrels of daily oil exports at risk. Meanwhile, the Bab el-Mandeb Strait is now at risk of being shut down, threatening up to -9 million barrels of daily oil supply. All while the Strait of Hormuz is operating at ~20% of its pre-Iran War capacity, removing -15 million barrels of daily oil flows. Combined, this represents nearly ~30 MILLION barrels per day of oil flows that are either offline or at risk. Even after accounting for some overlap between these routes, the scale of the potential disruption is enormous relative to the ~100 million barrel per day global oil market. This is one of the most severe energy supply situations in modern history.(The Kobeissi Letter)