The oil markets take for granted that Saudi Arabia’s spare capacity will cover any unplanned outages. The events of the past week have changed that with 5.7 MMB/d of Saudi production shut down abruptly from a drone attack. We discuss the situation, the potential for further escalation in the region, as well as the possible implications for oil demand and Canadian energy security. We also cover the Energy Disruptors conference held in Calgary this past week, where Peter Tertzakian launched his new project called Energyphile.
To learn more about Peter’s project and to download the energy story audio file visit www.energyphile.org.
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