OPEC sees no risks to market supply due to attacks on Saudi Aramco facilities, says source

OPEC sees no risks to market supply due to attacks on Saudi Aramco facilities, says source
# 16 September 2019 13:45 (UTC +04:00)

The declining production in Saudi Arabia, caused by attacks on Saudi Aramco’s facilities, would not lead to a force majeure on the oil market. OPEC is monitoring the situation together with the International Energy Agency (IEA), a senior OPEC official said, APA reports citing TASS.

"Saudi Arabia and Saudi Aramco in particular are on top of the situation. So far, they have handled the disruption admirably. There is no force majeure," the source said.

The source added that supply security is a top priority for OPEC, due to which the organization’s headquarters monitor the situation together with the IEA. According to the source, the question of convening an extraordinary meeting of OPEC countries is not discussed. "There is no panic button in OPEC," the source concluded.

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