Saudi Arabia has halved oil production

 Breaking News
  • Microsoft, Amazon and eBay are at record highs On Tuesday, securities of Microsoft Corp, Amazon.com Inc and eBay Inc broke records. The rush of investors’ demand for the shares of those companies involved in electronic commerce caused such...
  • Quarantine in Hong Kong is not for everyone Hong Kong is rescuing its stock exchange. In order to give life to the trading platform, the administration of the metropolis has shown flexibility concerning quarantine measures. So, Christopher Hui...
  • Economy of Japan demonstrates recession In the first quarter of this year, the economy of the Land of the Rising Sun dropped by 0.6% in monthly terms. The figures are not optimistic but are better...
  • Energy market news On Saturday, representatives of the countries included in the OPEC+ cartel managed to agree on the extension of the restrictions on oil production. It also became known that those countries...
  • Bentley fires employees in order to prevent losses in 2020 The Bentley brand has long been synonymous with luxury living. Unfortunately, the British automaker has to save because of a forced two-month break. The company’s CEO Adrian Hallmark said to...
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

0 Comments

No Comments Yet!

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

Write a comment

Write a Comment