Dmitriev: Attacks in Saudi Arabia very bad for markets, we hope for quick recovery

Interfax, 17.09.2019

ST. PETERSBURG. Sept 17 (Interfax) - The attacks on Saudi Arabia's oil infrastructure, which led to decreased production there, are a very negative factor for both the energy market and for geopolitical stability as a whole, said Kirill Dmitriev, the head of the Russian Direct Investment Fund (RDIF).

"Without a doubt, this is a very negative event for oil markets that increases unpredictability in oil markets. Since Saudi Arabia is our partner, we express our deep sympathy and support for Saudi Arabia at this very difficult time, when what's essentially the key energy infrastructure, not just in Saudi Arabia, but in the world, is being struck. We hope they'll be able to restore their capacity very quickly," Dmitriev told journalists in St. Petersburg.

Asked what effect this situation could have on the OPEC+ deal, he said it is "one of the key elements in the stability of the market. Energy ministers will absolutely discuss how this situation is affecting markets. But we see for the second day now that markets have become calmer. Accordingly, the geopolitical uncertainty remains, but it's definitely too early to draw any conclusions about the OPEC+ deal," Dmitriev said.