New Delhi: The drone attack on Saudi Aramco has increased concerns over crude oil worldwide. The Saudi Arabian oil company is among the world's largest oil companies. Saudi is one of the world's largest oil producers and exporters. After this attack, Saudi Arabia's oil production has come down to half. This may increase crude prices in the global market by up to $ 10 (Rs 710). If this happens, the prices of petrol and diesel in India may increase significantly.
This drone attack has reduced Saudi Arabia's oil production by 5.7 million barrels per day or 50 per cent. According to CNBC, it may be too early to assess whether the unit will be closed, but this could increase crude prices by about $ 10 (Rs 710). Andrew Lipo, president of Lipo Oil Associates, said, "This is a big event.
"I hope that when the market opens, the price of crude can increase by five to 10 dollars". Kevin Book, head (research) at Clearview Energy, said that the time it takes to repair it will affect prices, which can take weeks to months. The rise in crude oil prices will affect India because India is one of the largest oil importers in the world.
Agricultural malls to be built for farmers in this state
Merger of banks: These 10 banks will merge in PNB by April next year
India targets to reach in top 25 in ease of business ranking