Oil soars after attack on Saudi facilities: Analyst forecast link up with Rob Thummel
- 5 years ago
The attacks on the Saudi oil facilities sparked a massive fire at a crude processing plant essential to global oil supplies. The closure impacts 5 million barrels of crude processing per day, affecting 5 percent of the world's daily oil production.
Let's bring an analyst's view. Joining us live via skype is Rob Thummel, Managing Director of Tortoise Capital Advisors. Rob, welcome to the program.
Some analysts have said the now high risk premium and the sudden elimination of spare capacity adds a potential 5 to 10 dollar premium to oil prices. What's your projection of oil prices from here on forth?
Saudi officials had said they were racing to restore a third of the disrupted output within weeks. Now, some are saying it could take months. How will that affect the global crude oil supply chain?)
What are some other factors that further threaten the situation? President Trump appears to believe that Iran was behind the attacks on the Saudi oil plants. He's said the U.S. is locked and loaded. The risk factor of a conflict - could that add to a rise of oil prices?
How would the Saudi Arabia oil field attack impact Asian economies? Saudi Arabia is the biggest crude supplier to South Korea.
Let's bring an analyst's view. Joining us live via skype is Rob Thummel, Managing Director of Tortoise Capital Advisors. Rob, welcome to the program.
Some analysts have said the now high risk premium and the sudden elimination of spare capacity adds a potential 5 to 10 dollar premium to oil prices. What's your projection of oil prices from here on forth?
Saudi officials had said they were racing to restore a third of the disrupted output within weeks. Now, some are saying it could take months. How will that affect the global crude oil supply chain?)
What are some other factors that further threaten the situation? President Trump appears to believe that Iran was behind the attacks on the Saudi oil plants. He's said the U.S. is locked and loaded. The risk factor of a conflict - could that add to a rise of oil prices?
How would the Saudi Arabia oil field attack impact Asian economies? Saudi Arabia is the biggest crude supplier to South Korea.