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Saudi Arabia begs Iraq for crude after attack

Riyadh on Thursday asked Iraq’s national oil marketing company for 20 million barrels of crude to supply the country’s stocks after an attack on Saudi Aramco facilities.Crude oil production 2017

The Wall Street Journal reported citing two sources familiar with the matter.

According to the journal, Saudi Aramco declined to comment, while Ali Nazar Shatar, the deputy head of crude sales at the Iraqi State Organisation for Marketing of Oil, said there was no contract between the organisation and the Saudi company.

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Saturday’s drone attack on the Saudi facilities wiped out more than half of the country’s daily oil output.

Yemen’s Houthis Movement claimed responsibility for the strike, however, Saudi and American authorities accused Tehran of orchestrating the assault.

The Islamic republic refuted the allegations, stating that Riyadh knows nothing about the incident, and stressing that the kingdom failed to explain why the country’s defence system could not intercept missiles and aircraft.

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However, U.S. President Donald Trump said that he had ordered to boost sanctions on Iran over its alleged role in the recent attacks on oil facilities.

The attack triggered a considerable spike in oil prices across the globe. (NAN)

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