VIENNA, Sept 15 (KUNA) -- The renowned economic expert Hanz Gartner believes Saturday's drones' attack on oil installations of the conglomerate ARAMCO in eastern Saudi Arabia would lead to high oil prices.
Gartner told Kuwait News Agency (KUNA) that the attack on two ARAMCO's oil plants might boost consumers' jitters and lead to "temporary high" prices of the crude oil despite "sufficient volumes of oil in the market."
Moreover, considering that several regions in Asia and Europe largely depend on the Saudi oil exports, the attack "might cause a shock in the market and fuel fears of a shortage in the energy supplies, ultimately causing prices of the crude to jump."
He cautioned of possible recurrence of such an attack on the Saudi oil sites, amid the "military escalation and tension" in the Gulf due to the ongoing war in Yemen.
Moreover, he noted that the latest monthly report by OPEC affirmed that the crude price in August dropped by five dollars due to excessive output. (end)