Saudi Oil Facility Attack How will it affect the supply of crude oil to Japan? September 16, 19:02
In Saudi Arabia, one of the world's leading oil-producing countries, two oil-related facilities have been attacked, making it impossible to produce more than half of the daily crude oil production. I asked experts how it would affect the supply of crude oil in Japan.
Mr. Ken Koyama, Managing Director of the Institute of Energy Economics, Japan, who is familiar with the energy situation, said, “5.7 million barrels of production per day is equivalent to about 6% of the world's total supply. In the second oil crisis, the production of 6 million barrels per day became zero due to the impact of the Iranian Revolution in 1979. It can be said that the supply of scale is disrupted. "
On the other hand, as for the impact on supply to Japan, “If the restoration of Saudi Arabian facilities is completed within a relatively short period of less than two weeks, there will be almost no impact on Japan.” Japan needs to take measures such as securing new suppliers and reducing oil consumption. "
On the other hand, as for the impact on Japanese consumers: “Because Japan was completely unprepared during the first and second oil crises, there was a panic like the toilet paper buying up. Now, taking into account the past reflections, we have secured oil reserves and created a mechanism to help each country under the framework of the IEA = International Energy Agency.It is important for consumers to act calmly "Said.
As for future trends in crude oil prices, “Saudi Arabia, whose supply volume has been reduced by half this time, is the center of the world's supply of crude oil, and it has the only capacity to increase production immediately if necessary. It ’s an oil-producing country, and future oil prices will be determined by how marketers determine that the facilities in those countries have been attacked and how they deal. ”