Money Talks

Attacks cut Saudi oil output by 5.7M barrels per day | Money Talks


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Oil prices are continuing to surge after weekend attacks on facilities in Saudi Arabia crippled production in the world's largest oil exporter. Brent crude jumped 20 percent at one point, which was the biggest intra-day gain since the Gulf War in 1991. The drone attacks shut over five percent of global oil supply, with reports suggesting it could take weeks before Saudi production returns to normal levels. But US President Donald Trump's promise to tap into the country's oil reserves has managed to calm some nerves. Melinda Nucifora reports. For more on this story, we spoke to Gaurav Sharma in London. He's an oil market analyst and Forbes columnist.
#BrentCrude #Oil #OPEC
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