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Saudis keep oil flowing as they patch up wounded industry

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By Anthony DiPaola on 9/18/2019 DUBAI (Bloomberg) – Saudi Arabia reassured anxious customers that crude exports will keep flowing as normal and its industry can recover quickly from the worst attack in its history. Crude prices fell after Tuesday’s long-awaited statement from the kingdom — which pumped almost 10% of the world’s oil before the Read More

‘Material evidence’ of Iran’s involvement in plant attack – Saudis

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The Saudi government is preparing to present “material evidence” proving Iranian involvement in the weekend’s attack against two major Saudi oil production plants. At a news conference later in the capital Riyadh, a spokesman for the Saudi Defence Ministry will present Iranian weapons to substantiate claims that Iran was responsible for the attack. “(We will) Read More

FACTBOX: Oil falls after Saudi Arabia calms market over restoring supplies

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London — Oil prices fell Tuesday, giving back more than half of Monday’s surge, after Saudi energy minister Prince Abdulaziz bin Salman said he expects most of the country’s lost crude production to be restored within two weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The fast recovery Read More

Crude settles lower as Saudis say able to restore full production capacity by end-November

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New York — Crude futures settled lower Tuesday on news that Saudi Arabia will be able to restore its full crude production capacity by the end of November. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX front-month crude settled $3.56 lower at $59.34/b, while ICE front-month Brent settled Read More

Saudi oil output to recover in two or three weeks after attack: sources

1 day ago DieselGasoil Comments Off on Saudi oil output to recover in two or three weeks after attack: sources
LONDON/DUBAI (Reuters) – Saudi Arabia sought to calm markets on Tuesday after an attack on its oil facilities, with sources in the kingdom saying output was recovering much more quickly than initially forecast and could be fully back in two or three weeks. A satellite image showing damage to oil/gas Saudi Aramco infrastructure at Abqaiq, Read More

Iran rules out talks as Trump blames Tehran for Saudi oil attack

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DUBAI/WASHINGTON (Reuters) – Iran’s supreme leader on Tuesday ruled out talks with Washington after President Donald Trump blamed Tehran for a crippling attack on Saudi Arabia’s oil facilities. Iran’s Supreme Leader Ayatollah Ali Khamenei gives a speech to a group of scholars and seminary students of religious sciences in Tehran, Iran September 17, 2019. Official Read More

API: U.S. supply, global efforts cushion global oil markets after weekend attack

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By Dr. Dean Foreman, Chief Economist, American Petroleum Institute on 9/17/2019 WASHINGTON – An attack on a Saudi Arabian oil processing facility over the weekend has knocked out a significant part of Saudi production, at least temporarily, shaking oil markets. The precise amount and duration of the outage remains uncertain, and there are still unknowns Read More

Trump says he does not want war after attack on Saudi oil facilities

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WASHINGTON/DUBAI (Reuters) – U.S. President Donald Trump said on Monday said it looked like Iran was behind attacks on oil plants in Saudi Arabia but stressed he did not want to go to war, as the attacks sent oil prices soaring and raised fears of a new Middle East conflict. Iran has rejected U.S. charges Read More

FACTBOX: Crude prices soar as Saudi attacks expose tight global spare capacity

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New York — Oil prices rallied Monday as markets evaluated the fallout from the attacks on Saudi Arabia’s key Abqaiq processing facility and Khurais oil field over the weekend. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The threat of an extended supply outage from Saudi Arabia, the world’s Read More

Trump dispatches Pompeo to Saudi Arabia following attacks

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Washington — US Secretary of State Mike Pompeo will travel to Riyadh in response to the Saturday attacks on Saudi Arabia’s Abqaiq processing facility and Khurais oil field, US President Trump told reporters Monday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Trump, who said Monday that he had Read More