Attacks on Saudi Oil – Why Didn’t Prices Go Crazy?
have long wondered what the impact would be from a major attack on Saudi Arabia’s oil facilities. For decades, the Saudis were the world’s top exporter and swing producer, able to change output to meet fluctuations in market demand. Would an assault on their oil bring panic and an extreme rise in prices? Now there is an answer. The recent drone and missile attacks at Abiqaiq, the Saudi’s largest oil processing center, caused the worst sudden supply disruption in history, knocking out , half of the country’s total production and about 5% of ...
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