InvestorQ : With Saudi Arabia halting production of oil at a number of its refineries, what do you think will be the impact on oil prices?
Tisha Malhotra made post

With Saudi Arabia halting production of oil at a number of its refineries, what do you think will be the impact on oil prices?

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Moii Chavate answered.
2 years ago
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The short term impact will push up the oil prices. During the previous week, there were drone attacks on some of the major refineries of Saudi Aramco. The Houthi rebels who are fighting against the Saudi Arabians in Yemen have claimed responsibility for the attacks. As a precautionary measure, Saudi Arabia has cut down its output by nearly 50% for the time being. It is not clear how long the facilities will remain shut but it is surely going to have its impact on prices. You could see higher crude oil prices since Saudi Arabia is the largest exporter of oil in the world and producers nearly 10 million barrels of oil per day.

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2 years ago
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Two likely impacts: Crude can go higher and since Reliance Refinery is a partner with ARAMCO, the share price can be affected.

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sachin answered.
2 years ago
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Hello , This is good question.
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