Saudi attack to send oil prices soaring

Original article by Vesna Poljak,{SHARE}Peter Ker
The Australian Financial Review – Page: 1 & 13 : 16-Sep-19

Federal energy minister Angus Taylor has stated there are no immediate threats to Australia’s oil supplies, following attacks on Saudi Arabia’s energy infrastructure on 14 September. The drone attacks, by Iranian-backed Yemen Houthi rebels, are the most serious thus far on Saudi oil infrastructure, according to Ben Cleary from the Tribeca Global Natural Resources Fund. Saudi Arabia reported that over five million barrels oil production a day would be foregone immediately following the attacks, equivalent to between five and six per cent of global output. The attacks are tipped to spark a surge in oil prices when trading resumes on 16 September.


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