Saudi Arabia crude oil production outage affects global crude oil and gasoline prices

Read MORE

On Saturday, September 14, 2019, an attack damaged the Saudi Aramco Abqaiq oil processing facility and the Khurais oil field in eastern Saudi Arabia. The Abqaiq oil processing facility is the world’s largest crude oil processing and stabilization plant, with a capacity of 7 million barrels per day (b/d) or about 7% of global crude oil production capacity. On Monday, September 16, the first full day of trading after the attack, Brent and West Texas Intermediate (WTI) crude oil prices experienced the largest single-day price increase in the past decade.

Read More From {{feed_ name}}

Share:

Author: HEDGE

Executive Editor and Founder of HEDGEaccordingly.com. Hedge Was Founded in January 22, 2008. Learn more about HEDGEaccordingly