Geopolitical tension affects oil prices for short intervals: Aramco CEO

14/01/2020 Argaam

 

Saudi Aramco CEO, Amin Nasser, said that geopolitical tensions affect oil prices for short intervals, nevertheless sufficient market supply alleviates pressure on prices.

 

Aramco's quick recovery following the attacks on its facilities in 2019 proved its ability to maintain oil supply for foreign customers without disruptions, Nasser added in an interview with Bloomberg.

 

He stressed that the Kingdom is working on reducing its reliance on Abqaiq oil facility, which witnessed a drone attack last September.

 

The Saudi oil producer’s future strategy aims to respond to emergencies through flexibility and trained human resources.

 

“The Saudi government is making sure our facilities are secure and protected”, Nasser also noted.

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