Saudi Arabia uses stocks

On this last Wednesday (18), the barrel Brent dropped 1.5%, the US $63.60, while the WTI barrel closed at a 2.1% drop, the US $58.11, ending another day with the low oil quotes. In the face of this fall, Saudi Arabia is attempting to resort to stocks to maintain its oil supply to customers.

Even with the recent attacks on two of its major oil facilities last Saturday (14), the country is resorting to its reserves in the realm and its global network to continue the oil supply.

For strategic reasons, Saudi Aramco, the National Petroleum Company, also has a few tens of millions of barrels near its customers in emergencies.

Also, the Saudi Ministry of Energy reported on Tuesday that the kingdom has already reached the level of supply prior to the attack, but even if the country is in full preparation, stocks are finite and it is critical that repairs happen as ASAP.

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