The East-West pipeline, capable of carrying 7 million barrels per day, was hit by Iraq-launched drones last Thursday and has been taken offline. Analysts estimate repairs could take months, potentially removing 120 million barrels from global supply if the outage lasts a month. Meanwhile, a diplomatic meeting between Iran and Gulf Arab states, scheduled for Monday, was postponed following the pipeline attack. Security conditions in the region also worsened over the weekend, with another tanker attacked on Sunday and Houthi militants reportedly taking control of Perim Island in the Bab el-Mandeb Strait, a critical chokepoint for Saudi crude exports.