PSA: Fill up your gas tanks-world events

[flareslow]

CNBC

The Saudis have reportedly shut down half their oil production, or 5% of the world market. I don't think that we buy a lot of Saudi oil, but this will affect our prices. No assessment of damage or how long production will be reduced.

[MrNoBody]

However, the US is the top oil producer in the world.
https://en.wikipedia.org/wiki/List_of_co...production

[Zoidberg]

FWIW: Filled up last night at a local stop for about $2.11/gal (Central AR, just outside of Little Rock).

[Surfrider]

Just what we need $4.00 a gal gas....

[anonymouse1]

It’s a one global market for gas, so it will likely affect us in the US.

[bfd]

Electric Vehicles!

Oh wait, many PoCos use natural gas to make that electricity…

[Carnos Jax]

Will still be cheaper....and in fact the higher the gas price the more sense it makes to go electric.

[Carnos Jax]

So why are the Saudis doing this?

[flareslow]

Carnos wrote:
So why are the Saudis doing this?

Drone attacks on their refineries.

[Zoidberg]

Carnos Jax wrote:
So why are the Saudis doing this?

flareslow's posted news link covers the details; here's the story coverage via BBC News: https://www.bbc.com/news/world-middle-east-49703143

BBC News wrote:
Saudi Arabia's oil production has been severely disrupted by drone attacks on two major oil facilities run by state-owned company Aramco, reports say.

Sources quoted by Reuters and WSJ said the strikes had reduced production by five million barrels a day - nearly half the kingdom's output.

The fires are now under control at both facilities, Saudi state media say.

A spokesman for the Houthi rebel group in Yemen said it had deployed 10 drones in the attacks.
The Saudis lead a Western-backed military coalition supporting Yemen's government, while Iran backs the Houthi rebels.

The Houthi spokesman, Yahya Sarea, told al-Masirah TV, which is owned by the Houthi movement and is based in Beirut, that further attacks could be expected in the future.

He said Saturday's attack was one of the biggest operations the Houthi forces had undertaken inside Saudi Arabia and was carried out in "co-operation with the honourable people inside the kingdom".
TV footage showed a huge blaze at Abqaiq, site of Aramco's largest oil processing plant, while a second drone attack started fires in the Khurais oilfield.