Chart: How the Saudi drone attack affected oil prices

The September 14 attack invoked a knee-jerk reaction, but prices have cooled since. India' crude oil cost is expected to remain at last year's average of $69.88 a barrel

Samar Srivastava
Published: Sep 23, 2019 02:20:26 PM IST
Updated: Sep 23, 2019 02:29:08 PM IST

After studying law I vectored towards journalism by accident and it's the only job I've done since. It's a job that has taken me on a private jet to Jaisalmer - where I wrote India's first feature on fractional ownership of business jets - to the badlands of west UP where India's sugar economy is inextricably now tied to politics. I'm a big fan of new business models and crafty entrepreneurs. Fortunately for me, there are plenty of those in Asia at the moment.

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The September 14 drone attack on Saudi Aramco’s oil processing facilities in Abqaiq and Khurais in Saudi Arabia invoked a knee jerk reaction. Oil prices rose over 20 percent, the highest since Iraq’s 1991 invasion of Kuwait. They’ve since cooled off to about $65 a barrel as Saudi Arabia indicated supply disruption would be limited to a month. India’ crude oil cost is expected to remain at last year’s average of $69.88 a barrel.

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