Crude oil prices continue to rise following attacks on Saudi oil facilities. The US and Japan are trying to calm supply concerns by referring to the release of stockpiles, but there is a view that the recovery of Saudi production capacity will take time, and there are concerns about the impact on the global economy.
At the New York Commercial Exchange on the 16th of the week, the price of futures for US-made WTI crude oil, which is an indicator of crude oil prices, was 14.7% higher than the previous weekend at 1 barrel = 62.90 dollars for the first time in about 4 months. Closed trading at a high price level. At one time, it surged 15.5%, according to the US media, the rate of increase since the end of 2008.
The future price of North Sea Brent crude oil, one of the international indicators of crude oil, also surged nearly 20% from the previous weekend on the 16th, and the closing price is 14.6 dollars = 69.02 dollars. On the 17th, it remains high.
Saudi national oil company Saudi Aramco ceased supplying about 5.7 million barrels per day, half the production volume, following the bombing of two oil facilities on the 14th. That's more than 5% of the world's daily production.
The International Energy Agency (IEA) issued a statement on the same day that it has “sufficient inventory”. US President Trump posted on Twitter on the 15th: “As needed, we will supply enough oil from the strategic oil reserves to market.”
Kazuhide Kajiwara, Minister of Economy, Trade and Industry, said that domestic stockpiling is about 230 days of domestic consumption for both the public and private sectors. I would like to secure the necessary amount through. " The first meeting of the Oil Countermeasures Headquarters was held to ascertain the impact on the stable supply of oil and trends in the oil market, and confirmed cooperation with the IEA and related countries.
Although the Saudi side has not yet revealed the recovery prospects, Reuters reported that the recovery will take several months. The US Wall Street Journal reported that the Saudi authorities are considering a postponement of Saudi Aramco's stock listing expected earlier this year. (Shinya Wake = London, Takashi Ezo = New York, Hiromi Ito)