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Germany barely affected: Mineral oil industry: No bottleneck danger with oil

2019-09-15T16:35:14.514Z

TIME ONLINE | News, backgrounds and debates


Berlin (dpa) - After the drone attacks on the largest oil refinery in Saudi Arabia Experts expect turbulence on the oil markets at the start of the week.

However, the impact on the German market and for motorists in this country are likely to hold in the opinion of the Petroleum Industry Association (MWV) within limits.

"From Saudi Arabia comes little oil to Germany - in 2018 it was one percent," said a federation spokesman on Sunday the German Press Agency on request. "So there is no bottleneck risk for oil in Germany."

The global oil price could rise in the short term. "Whether this will affect German tank customers, but is open: Other countries are able to expand their production and compensate for the failure so," it said.

Currently, according to the MWV, the oil price of the relevant North Sea Brent variety is rather low at around $ 60 a barrel (159 liters) over many years. The price has long been at more than $ 100.

The largest oil refinery in Saudi Arabia had been attacked with drones over the weekend. The attacks have led, according to official information from Riyadh, to a slump in production.

Source: zeit

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