Saudi Arabia Drone Attack Is a Strike at Oil’s Future
#DmtDaily
(Bloomberg Opinion) -- We’re about to find out just how laid back the oil market really is. It has shrugged off sanctions on Iran, exploding tankers and drones getting shot down over the Strait of Hormuz. But this weekend’s strike against Saudi Arabia’s Abqaiq processing facility – perhaps the single most important piece of oil infrastructure on the planet – is of a different order. Saudi Arabia said the attack affected 5.7 million barrels a day of output, or roughly half their production. The more important issue is how long any disruption lasts. It is unclear whether the strike involved drone-fired weapons or missiles or a combination of them. The Abqaiq facility’s sheer size,...
News
via https://DMT.NEWS
, DMT.NEWS
(Bloomberg Opinion) -- We’re about to find out just how laid back the oil market really is. It has shrugged off sanctions on Iran, exploding tankers and drones getting shot down over the Strait of Hormuz. But this weekend’s strike against Saudi Arabia’s Abqaiq processing facility – perhaps the single most important piece of oil infrastructure on the planet – is of a different order. Saudi Arabia said the attack affected 5.7 million barrels a day of output, or roughly half their production. The more important issue is how long any disruption lasts. It is unclear whether the strike involved drone-fired weapons or missiles or a combination of them. The Abqaiq facility’s sheer size,...
News
via https://DMT.NEWS
, DMT.NEWS
