Oil price14 Oct 2018 21:18
By Reuters,
OIL PRICE WARNING
In a column published just after the SPA statement, Saudi-owned Al Arabiya channel’s General Manager Turki Aldakhil warned that imposing sanctions on the world’s largest oil exporter could spark global economic disaster.
“It would lead to Saudi Arabia’s failure to commit to producing 7.5 million barrels. If the price of oil reaching $80 angered President Trump, no one should rule out the price jumping to $100, or $200, or even double that figure,” he wrote.
Investor concern is growing that Khashoggi’s disappearance could add to a sense that Saudi policy has become more unpredictable under Crown Prince Mohammed bin Salman, who is pushing social and economic reforms but has also presided over a rise in tensions between with several countries.
A Gulf banker said the Khashoggi case, combined with other events, had become a significant factor for some potential investors.