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Saudi Arabia Drone Attack Is a Strike at Oil’s Future

WorldNews Sunday, 15 September 2019
Saudi Arabia Drone Attack Is a Strike at Oil’s Future(Bloomberg Opinion) -- We’re about to find out just how laid back the oil market really is. It has shrugged off sanctions on Iran, exploding tankers and drones getting shot down over the Strait of Hormuz. But this weekend’s strike against Saudi Arabia’s Abqaiq processing facility – perhaps the single most important piece of oil infrastructure on the planet – is of a different order. Saudi Arabia said the attack affected 5.7 million barrels a day of output, or roughly half their production. The more important issue is how long any disruption lasts. It is unclear whether the strike involved drone-fired weapons or missiles or a combination of them. The Abqaiq facility’s sheer size,...
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News video: Oil Prices Spike as U.S. Blames Iran for Drone Attack on Saudi Arabia

Oil Prices Spike as U.S. Blames Iran for Drone Attack on Saudi Arabia 00:59

Governments and energy markets worldwide remain on edge Monday as the U.S. continues to blame Iran for the drone attack on two oil installations in Saudi Arabia over the weekend.

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