UAE to accelerate new oil pipeline project to expand ability to bypass Hormuz

The UAE is accelerating the construction of a new oil pipeline to double its export capacity through Fujairah by 2027, aiming to bypass the Strait of Hormuz. This move reflects the UAE's strategy to enhance energy security amid the ongoing US-Iran conflict and the closure of the Strait. Rising energy prices and concerns about supply disruptions pose a risk to the global economy.