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The impact of the Saudi attack on oil prices

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Update time : 2021-03-12 07:23:32
On March 7, two oil facilities in eastern Saudi Arabia were attacked by Houthi forces. The Cape Tanulah oil port, one of the most protected facilities in the world, exports about 6.5 million barrels of oil a day, accounting for almost 7 percent of the world's oil supply and directly affecting international oil prices.
But I think the recent support for oil prices has a lot to do with the economic recovery and the automatic production cuts in Saudi Arabia. Despite the attacks, there has certainly been no major disruption. Violence, information about production cuts, etc., will have a short-term impact on oil prices.