Markets

CITI: The Saudi oil-field attacks show investors have been ‘persistently mispricing’ oil by ignoring a ‘highly vulnerable’ infrastructure — and now all bets are off

The drone strike on one of Saudi Arabia’s primary oil facilities has shed light on a critical risk for the world’s largest producer that investors have been ignoring, according to analysts at Citigroup. The analysts says the market has been “persistently mispricing” oil by underestimating the vulnerability of Saudi Arabia’s […]
CITI: The Saudi oil-field attacks show investors have been ‘persistently mispricing’ oil by ignoring a ‘highly vulnerable’ infrastructure — and now all bets are off
News

The Saudi drone attack took out a known weak spot in the oil supply chain with a cheap, low-tech weapon that billions’ worth of air defences are powerless to stop

An attack on a major Saudi oil facility on Saturday knocked out 5% of the global supply, and roiled the markets. What’s more, it was achieved with easy-to-acquire and relatively cheap military equipment. Saudi Arabia has spent billions defending its oil fields, but this came to nothing. The attacks appear […]
The Saudi drone attack took out a known weak spot in the oil supply chain with a cheap, low-tech weapon that billions’ worth of air defences are powerless to stop
News

The world’s oil producers keep a massive amount of capacity in reserve. But it’s almost all in Saudi Arabia and the drone attack messed with that too.

The drone attacks on Saudi Arabia’s oil plants didn’t just halve the country’s production and send the price of oil rocketing. They also harmed the country’s spare production capacity, which can produce some 2 million barrels a day and used during emergencies. Drones hit two refineries owned by state-owned giant […]
The world’s oil producers keep a massive amount of capacity in reserve. But it’s almost all in Saudi Arabia and the drone attack messed with that too.