Saudi Arabia oil attacks

I am pretty sure this will impact oil prices half of their production is down that is 2.5 percent of the entire world's world's production . Not sure on how long it will take to get the plant up and going again . I wonder what brand drones they used maybe dj phantoms ? Probably a bigger drone now that I think about it lol ...

 

The chaos in Venezuela hasn't had much effect, so, I don't know.

 

Looks like the price for a barrel rose above $60, but it could be a shock to the system more than a long-term trend. Typically situations like this resolve themselves unless it’s a major event like an OPEC boycott.

https://www.wsj.com/articles/oil-prices-soar-after-saudi-attack-11568585160?mod=e2fb

 

It’s crazy to me how it all works.

I was just reading articles from several reliable sources how the US now exports more oil than Saudi Arabia and Russia thanks to the fracking industry.

One would think world events would not effect our oil prices but apparently it doesn’t work that way.