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Oil Price after Armco’s Attacks

Source: www.gulfoilandgas.com 9/15/2019, Location: Middle East

Oil prices could spike when markets open Monday as Saudi Arabia scrambles to repair damage to its energy infrastructure inflicted. About 5.7 million barrels a day of crude oil and gas production have been affected. The latest OPEC figures put total Saudi production at 9.8 million barrels per day.

The events in Saudi Arabia have ratcheted up tensions in the Middle East to a new level raising concerns about supply security. Also the change in geopolitical risk could cause crude prices to jump between $5 and $10 a barrel.

On the other side, the attacks could complicate Aramco's IPO plans given rising security risks and potential impact on its valuation.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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