An Attack On Saudi Arabia's Oil : Planet Money What the attacks on Saudi Arabia's oil production facilities could mean for the global oil industry.
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An Attack On Saudi Arabia's Oil

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An Attack On Saudi Arabia's Oil

An Attack On Saudi Arabia's Oil

An Attack On Saudi Arabia's Oil

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  • <iframe src="https://www.npr.org/player/embed/761359124/761362069" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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-/AFP/Getty Images
Smoke billows from an Aramco oil facility in Abqaiq about 60km (37 miles) southwest of Dhahran in Saudi Arabia. (Photo credit should read -/AFP/Getty Images)
-/AFP/Getty Images

Following an attack on an oil processing facility, Saudi Arabia suspended about half of its daily oil production. That removed roughly five percent of the global oil supply from the market, and the immediate result was a jump in the price of oil. It's now over ten percent higher than it was before the attack. If that situation persists, it could take a toll on the U.S. economy. We spoke to John Kemp, a senior oil market analyst at Reuters, about the prospects for higher energy prices, and what they might mean for the global oil market and the global economy.

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