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Reuters
Ahmed Jadallah
Saudi Arabia is on the verge of becoming a major buyer of refined products after Saturday's attacks that forced it to stop more than half of its crude oil and some gas production, said the energy consultant Energy Aspects.
The company said Sunday in a note that "the loss of gas has an impact on refining operations and may reduce consumption rates by one million barrels a day, which provides heavy and medium crude oil. to export ".
Saudi Aramco, a state-owned oil company, is likely to purchase large quantities of gasoline, diesel and possibly fuel oil, while reducing its liquefied petroleum gas exports, according to Energy Aspects.
The production of about 5.7 million barrels of Saudi crude oil a day was reduced on Saturday as a result of attacks launched by Yemeni Houthi groups.
In addition to oil, the attacks have halted 18% of natural gas production and 50% of ethane and gaseous production in the kingdom, said Energy Aspects.
About half of crude oil production lost in Saudi Arabia is expected to recover by Monday, but a full recovery may take weeks, according to the company.
The quality of light Arab crudes and light light crudes, she said, could also have been affected by the large amount of hydrogen sulphide, which has reduced refinery appetite.
Exports will be maintained thanks to the withdrawal of 50 to 60 million barrels of domestic crude, mainly to Ras Tanura, according to the company.
Source: Reuters
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