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Criticism of Crown Prince Mohammed bin Salman by some of the members of Saudi Arabia’s ruling family as well as other business elites is mounting following the attack on Saudi Arabia’s oil assets that took offline 5.7 million barrels of crude oil production per day, exclusive Reuters sources said on Wednesday.
Russian Energy Minister Novak was on the wires last minutes, via Interfax, commenting on the Russian oil output levels.
Crude Oil futures leapt this morning by over 15% in a knee-jerk reaction to the attack on the Saudi Arabia Abqaiq oil facility over the weekend that notionally, took 5% of the world’s supply offline.
Saudi Arabia’s stock market fell by 2.3% at Sunday’s open as the country grappled with weekend drone attacks on the heart of its oil production facilities in Abqaiq and Khurais claimed by Yemen’s Houthi rebels.
MCX Crude Trading Tips – If sustain above ₹4200 level Positional Target 4275—4360—4444, Below 4190 Correction Expected.
Gold Silver Reports (GSR) – US crude oil is trading higher for 5th consecutive days on hopes of trade deal optimism and expectations of extended output cuts by OPEC.