RE: Saudi Starts Restoring Some Output15 Sep 2019 19:01
The SPR holds 630 million barrels. The Saudis have lost 5.7 million, that's 110 days. If this is a one off, fine, but if it's that easy to do, this is a real game changer. All the majors are vulnerable as well. BP has the BTC pipeline running through Azerbaijan, Georgia and Turkey, which is a security headache at the best of times, now you have to factor this in. I think the market will resemble the crazy days of the 1970's, maybe worse!