By Abbas Al Lawati (Bloomberg) --Saudi Arabia joined a U.S.-led coalition to secure sea lines vital to oil shipping in the Middle East in the aftermath of a devastating attacks on Aramco’s oil facilities. The International Maritime Security Construct’s area of operation covers the Strait of Hormuz, the world’s most critical waterway for oil supplies, the Strait of Bab … [Read more...]
Demand for U.S. Crude Surges After Attack on Saudi Oil Facilities
NEW YORK/HOUSTON, Sept 16 (Reuters) - U.S. crude export demand at the Gulf Coast surged on Monday, traders said, as the window to export crude profitably to Asia and Europe was thrown open after attacks on Saudi Arabia's oil facilities took out 5% of global oil supplies. The attack knocked out more than half of Saudi Arabia's oil production and damaged the world's biggest … [Read more...]
Tanker Bottleneck Grows at Saudi Ports After Attack
LONDON, Sept 16 (Reuters) - At least 11 supertankers are waiting to load oil cargoes from Saudi Arabian ports after an attack on the country's oil facilities at the weekend halved the kingdom's production, ship tracking data showed on Monday. Each supertanker, or very large crude carrier (VLCC), can carry up to 2 million barrels of oil, and growing disruption to loading … [Read more...]
Attack on Saudi Oil Facility Hits the Oil Market’s Achilles Heel: Kemp
By John Kemp LONDON, Sept 16 (Reuters) - Oil security experts have worried for decades about the vulnerability of Saudi Arabia's Abqaiq processing complex to an attack by militants, foreign special forces or missile strikes. Oilfields make a difficult target because of the dispersed nature of the wells and associated infrastructure, but processing facilities and export … [Read more...]
Iran Rejects U.S. Claim it was Behind Saudi Oil Strikes
By Rania El Gamal and Parisa Hafezi DUBAI, Sept 15 (Reuters) - Iran dismissed accusations by the United States that it was behind attacks on Saudi oil plants that risk disrupting global energy supplies and warned on Sunday that U.S. bases and aircraft carriers in the region were in range of its missiles. Yemen's Houthi group claimed responsibility for Saturday's attacks that … [Read more...]