• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 2 days Wind droughts
  • 5 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 7 hours Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 2 hours ""Green" Energy Is a Scam. It Isn't MEANT to Work." - By James Corbett of The Corbett Report
  • 3 days Oil Prices Fall After Fed Raises Rates
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 11 days "Russian oil executive and Putin critic Ravil Maganov dead after mysterious six-story fall" - The New York Post
  • 3 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 13 days How Far Have We Really Gotten With Alternative Energy
  • 8 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 11 days The Federal Reserve and Money...Aspects which are not widely known
Ross McCracken

Ross McCracken

Ross is an energy analyst, writer and consultant who was previously the Managing Editor of Platts Energy Economist

More Info

Provocation And Response: A Gulf War In The Making?

Drone strikes September 14 on Saudi Arabian oil facilities have disrupted 5.7 million b/d of the country’s crude oil and gas production, representing more than 5% of global oil supplies, causing a huge jump in oil prices. The strikes caused fires at Abqaiq and Khurais in the east of the country.

The Abqaiq oil complex is the starting point of the East West Petroline, the Abqaiq IPSA natural gas line, which has been converted to crude oil transport, and the Abqaiq-Yanbu Natural Gas Condensate pipeline. In addition to serving east-west oil transport, which bypasses the Strait of Hormuz, Abqaiq is Saudi Arabia’s main crude processing and desulphurization facility and therefore crucial to maintaining crude flows and quality. Khurais is a complex of oil fields with a capacity of 1.5 million b/d. How long it will take to repair the damage is still being assessed.

Who is to blame?

Houthi rebels in Yemen claimed responsibility for the attacks, which would be by far their most successful attempt to disrupt Saudi oil infrastructure. They have previously attacked remote Petroline pumping stations, airports and populated areas in western Saudi Arabia.

Houthi drone strikes earlier in the year appeared coordinated with attacks on tankers off the UAE port of Fujairah, signaling Iran and its allies’ capacity to impact Gulf oil production beyond the threat to tanker traffic through the Strait of Hormuz.

US Secretary of State Mike Pompeo claimed…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News