? market response
Because the oil market fluctuated little before, it paid more attention to demand than supply. I think the sudden shift to the supply outlook caught many short sellers off guard and encouraged the establishment of new long positions. Saudi Arabia is the world's largest oil exporter with relatively large spare capacity, and has been the last bastion of crude oil supply for decades. The crude oil processing facilities of Saudi National Oil Company were attacked, resulting in a reduction of 5.7 million barrels per day, and its ability to maintain oil exports was questioned. It may take several months to fully resume normal production.
counter-measure
Oil prices soared by about 20% after the market opened on Sunday night, and Buyou recorded the biggest mid-market increase since the Gulf crisis 1990- 199 1. However, after countries indicated that they would use emergency supplies to maintain global oil supply, oil prices fell. Crude oil futures rose after the Saudi-led military alliance against the Houthi armed movement in Yemen said on Monday that according to the preliminary investigation results, the attack on Saudi oil facilities was carried out with Iranian weapons, not from Yemen.
American reaction
Due to the attack on Saudi oil facilities on Saturday, he has authorized the release of the US Strategic Petroleum Reserve (SPR) when necessary, and the scale is to be determined. This will help curb the rise in oil prices. Trump also said that the United States has "loaded ammunition" to prepare for the possible attack on Saudi oil facilities.
Although the production capacity can be restored, but the tense situation has been formed, whether the production capacity can be restored smoothly is still unknown, and whether it is necessary to withdraw from the region. Under all kinds of doubts, the price of crude oil will inevitably rise.