ABSTRACT

Attacks Against Saudi Oil Rattle Markets [Updated September 26, 2019]   [open pdf - 548KB]

From the Document: "September 14, 2019, saw a successful attack against major oil infrastructure in Saudi Arabia (the largest oil exporter), which temporarily disrupted 5.7 million barrels of daily production (mb/d), over half of Saudi oil production and about 5% of global supply. For context, U.S. crude oil production is approximately 12 mb/d. Global oil markets have responded with an initial price increase and subsequent pullback. The magnitude and duration of the price rise will depend on many factors, such as repair time, additional supplies, the potential confirmation of the perpetrator, and any related security responses."

Report Number:
CRS Insight, IN11167
Author:
Publisher:
Date:
2019-09-26
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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