DUBAI (S&P Global Ratings) Sept. 16, 2019--S&P Global Ratings said today that although high inventory levels could limit the impact of the Sept. 14 attacks on Saudi Arabia's oil infrastructure, the event highlights the region's high geopolitical risks and the risks to spare capacity. The attack on national oil company Saudi Aramco's oil facilities in Abqaiq and Khurais led to an immediate drop in Saudi crude oil production of 5.7 million barrels per day. This amounts to more than half of Saudi's average 2019 production. The duration of the production outages, and how much damage the facilities have sustained, is currently unclear. The outage affects not only oil production, but also gas production. Gas is a vital feedstock to a
