Commenting on the Saudi attack and its impact on the Kingdom’s oil output, the OPEC Secretary-General Mohammad Barkindo said that Saudi Arabia has ample supplies in its inventories.
Saudi Arabia has contained the situation so far.
Saudi Arabia hasn’t issued any oil force majeure.
- Russia’s Novak: There are enough commercial stockpiles to make up the shortfall from Saudi
- Russia’s Novak: Russian, Saudi Energy Ministers to have phone call on Monday
- OPEC Source: There is no need for extraordinary OPEC+ meeting for now
Oil prices consolidate the recent correction with gains of around 8%. WTI hovers around 59 mark while Brent flirts with 65.50.