The massive drone strike on the world’s largest crude-processing facility operated by Saudi Arabia’s Aramco has global ramifications, particularly for countries in Asia.
The region consumes more oil than anywhere else, with China, India, Japan and South Korea among the world’s top buyers. The strike on the Saudi Arabian Oil Co. facility, which the U.S. blamed on Iran, knocked out roughly 5% of the global supply. Oil prices surged the most on record Monday, with Brent crude seeing its biggest gain in dollar terms since futures started trading in 1988.
Here’s how Asian governments are reacting so far:
South Korea’s Ministry of Trade, Industry and Energy confirmed it will convene an emergency meeting on the matter Read More
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