This oil shock may be different

An Aramco oil tank is seen at the Production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia.

The disruption of Saudi Arabia’s production facilities comes at a time when the world is experiencing an excess supply of crude oil and slowing economy.

THE world has witnessed several oil shocks that cause prices to double or triple due to supply disruptions.

The attack on Saudi Arabia’s oil-producing facilities that would cut down on almost 50% of its production (which is 5% of the daily global oil supply) will spark another oil shock.