Premature To Make Conclusions On OPEC+ Deal Review After Attack On Saudi Oil - RDIF

Sputnik, 17.09.2019

MOSCOW (Sputnik - 17th September, 2019) It is too early to make any decisions on a potential review of the OPEC+ oil cuts deal due to a recent attack on Saudi oil facilities, Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev said Tuesday.

On Saturday, Saudi Arabia was forced to shut down two Saudi Aramco oil facilities, namely Abqaiq and Khurais, after a drone attack, claimed by Yemeni Houthis, caused massive fires.

The incident led to a cut in oil production totaling 5.7 million barrels per day about half of Saudi Arabia's daily oil output.

"Of course, energy ministers will discuss how this situation affects the markets. But we see that on the second day the markets became calmer. Accordingly, geopolitical uncertainty persists, but it is certainly premature to draw any conclusions on the OPEC+ deal," Dmitriev told reporters, adding that the current OPEC+ agreement was one of the main elements of stability on the oil markets.