The attack to Aramco on September 14th 2019 does not only destroy 2 oil facilities and descend the global oil supply but also destroys the dream of Saudi Arabia about the US security power! It is a long time that Saudi authorities believe that their close relationships with US as well as the purchase of…
Saudi Arabia
Oman: Forget $80 oil!
Mohammed bin Hamad Al Rumhi, the energy minister of non-OPEC Oman, said that it is unlikely to see oil at $80 a barrel! Oil producing countries should accept oil at $60! He added that all oil producers want the oil price to increase to $80, same as him. But is it logical? Presumably NO. We…
Oil Prices Jump on Monday!
Oil price is expected to gain 15% on September 16th 2019. Yemen’s Houthi rebels have attacked Saudi Aramco oil facilities in Abqaiq and Khurais with drones on Saturday. This attack will cause the oil output of Saudi to decreases 5 million barrels per day! It means that global oil supply softens 5%, a major challenge!…