Oilprice .com has an interesting article.
The new MbS's brother oil minister, who joined a few weeks ago said, Saudi capacity will recover by the end of September, i.e. next few days.
Experts say after damage of this size, it will take end of Sep only to assess the damages, let alone plan or repair.
But Saudi can't show production cut, because "the King has already spoken".
So it's looking to buy Iraqi oil and sell those to customers to make it look like the supply line is uninterrupted.
And here's the twist : Iran actually smuggles its oil to Iraq and sell it from there to bypass USA sanctions.
Thus Saudi for some time to come will be the proxy for selling Iranian oil. :V :V :V
25-Sep-2019 2:13 pm