Nearly Half Of Saudi Oil Production Disrupted In Houthi Aramco Drone Strikes

Nearly Half Of Saudi Oil Production Disrupted In Houthi Aramco Drone Strikes

It looks as though the Iran-backed Houthis have finally managed to deal a meaningful blow to Saudi Arabia via cross-border drone attacks. Although initial indications suggested the fires - one of which affected the world’s largest oil processing facility at Abqaiq - were under control, subsequent reports revealed a massive loss of production capacity. This time, the Houthis deployed 10 drones in strikes on Abqaiq and Khurais. [video width="768" height="432" mp4="https://heisenbergreport.com
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4 thoughts on “Nearly Half Of Saudi Oil Production Disrupted In Houthi Aramco Drone Strikes

  1. FYI: Oil aint what it used to be, so as usual, this will be weird!

    Complicating matters further for Texas shale drillers is the increasing shift of the oil slate to lighter forms of crude. Oil coming out of the ground in West Texas was light to begin with, but as drillers begin to shift increasingly from the Midland to the Delaware basin, oil is becoming lighter and lighter.

    The refineries along the Gulf Coast are not equipped to handle oil that light. It is typically mixed in with other streams to create WTI, but rising volumes of ultra-light oil are forcing changes. Instead, the industry is beginning to separate out oil of different qualities, forming new grades, as Reuters reports. In addition to WTI, markets are opening up for West Texas Light (WTL) and even West Texas Condensate (WTC). These newer, lighter grades are trading for discounts, which means that some companies are selling their product for prices well below the prevailing WTI price.

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