Stock market quotes, forex, financial news, forex tools –

Saudi Arabia has halved oil production

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
Saudi Arabia has halved oil production
September 17
13:00 2019

According to Bloomberg, Saudi Arabia was forced to halve the production of the “black gold”. We recall that this happened after the attack on the oil facilities of Saudi Arabia. Saudi Aramco has cut the production by about 5 million barrels per day.

Yemeni rebels took responsibility for the attack.

The attack was carried out on September 14. As a result, refineries and a large field were damaged. Explosions and a fire damaged the infrastructure, which could subsequently disrupt the schedule of fuel supplies from the region.

Abqaiq is a transit point from where oil is sent to various terminals for export.

Bloomberg’s insiders at Saudi Aramco report that the company is counting on a quick recovery of the affected facilities.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment