OPEC chief calls attack on Saudi oil facility in Jeddah terrorist act

OPEC chief calls attack on Saudi oil facility in Jeddah terrorist act

OPEC secretary-general called the attack on a petroleum products distribution station in north Jeddah, Saudi Arabia, a terrorist act.

In a statement on Tuesday, OPEC chief Mohammad Sanusi Barkindo said: “Acts of sabotage such as this are detrimental to energy supply security for both producers and consumers and can lead to much uncertainty and volatility. The firefighters were able to extinguish the fire quickly and there were no reports of injuries or casualties.”

“The swift response and the fact that not affecting Saudi Aramco’s supply of fuel to its customers; meant it had no meaningful impact on the market,” the statement read.

“The incident follows on from the recent incident near a floating platform for an oil distribution station in Jazan and the September 2019 terrorist attack on oil installations in Abqaiq and Khurais; again focused on cutting off energy supplies and creating instability on oil markets, as well as the global economy,” the statement added.

Barkindo also added in the statement that OPEC stands against any acts of terror and sabotage. It is firmly committed to market stability and remaining a dependable, reliable source of supply for its customers worldwide.

Meanwhile, the International Energy Agency said that the attack on oil facilities in Jeddah, Saudi Arabia; is a reminder of the need to remain vigilant for threats to energy security.

The IEA also added that it is closely monitoring the situation; emphasizing that global oil markets remain well supplied as things stand.