S&P Global Platts Market Insight: Saudi attacks bring geopolitical risks to the forefront


Mriganka Jaipuriyar

RECENT attacks on key oil infrastructure in Saudi Arabia sent prices sharply higher, and while the risk to near term supply disruption may be low, the event squarely brings to the forefront the vulnerability of Middle East supply.

The drone strikes early Saturday on the Abqaiq processing facility and the Khurais field caused 5.7 million b/d of crude production – nearly 60% of Saudi Arabia’s current production -- to be shut in.

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Energy , Oil & Gas , S&P Global Platts , Brent , Saudi

   

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