Saudi Arabia’s “Ability to Ensure Energy Security Is no Longer Guaranteed”
March 29th, 2022Via: AP:
Saudi Arabia’s oil chief said markets are going through a “jittery period” and reiterated Tuesday that the kingdom’s ability to ensure energy security is no longer guaranteed.
Energy Minister Prince Abdulaziz bin Salman said cross-border attacks have put to question “our ability to supply the world with the necessary energy requirements.” The attacks have been carried out by Yemen’s rebel Houthis, who are supported by Iran.
“It goes without saying that if this security supply is impacted, it will impact us … but more fundamentally, I think it also will affect the world economy,” he said.
I have often heard it speculated that Saudi Arabia has structurally damaged its oil wells with all the times they have gone all-out on production to accommodate the US agenda of the moment.