Surveillance: Saudi Oil Supply With Tchilinguirian
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 16 September 2019
⏱️ 36 minutes
🧾️ Download transcript
Summary
Harry Tchilinguirian, BNP Head of Commodity Markets Strategy, breaks down the market risk surrounding the recent attack on Saudi oil supply. Michael Darda, MKM Partners Chief Economist & Macro Strategist, says based on the data released today, there are structural reasons why China is slowing down. Ted Alden, CFR Senior Fellow, says the global economy needs leadership. Henrietta Treyz, Veda Partners Director of Economic Policy Research, has her eye on how China and Iran will interact following the oil turbulence in Saudi Arabia. And Marc Chandler, Bannockburn Global Forex Chief Market Strategist, explains what it means when countries "borrow dollars."
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| 0:10.8 | And context changes everything. Go to Bloomberg.com to get context. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
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| 0:35.2 | Bloomberg surveillance on Apple Podcasts soundcloud bloomberg dot com and of course on the |
| 0:41.5 | Bloomberg. Your top story quite clearly what happened with Saudi Arabia through the weekend. |
| 0:48.0 | Saudi Aramco losing about 5.7 million barrels per day of output after 10 unmanned air of all vehicles |
| 0:54.9 | struck the world's biggest crude processing facility as well as the kingdom's |
| 0:59.0 | second largest oil field. I'm pleased to say that joining us on the phone Harry |
| 1:03.5 | Chilengarian joins us now, BMP Parabars head of Commodity |
| 1:06.7 | Market strategy. Great to have you with us Harry. Let me begin with the |
| 1:09.8 | first and obvious question. How long will it take a Ramco to bring disrupted production |
| 1:14.5 | back online and as a consequence, how long can Saudi TAP inventories without disrupting flows |
| 1:19.3 | to customers? |
| 1:21.3 | I think that's a really difficult question right now we don't have yet a status report |
| 1:26.5 | in terms of damage in particular at the Abke refinery as you know Ramco announced on |
| 1:31.0 | Sunday that it should produce such a report within 48 hours so I |
| 1:34.6 | guess we're going to have to wait and see what the level of damage is. |
| 1:38.6 | Certainly Saudi Arabia in terms of its commitments to its customers will be able to keep supplying the market |
| 1:44.4 | and has storage at its main oil terminals like Rastanuf has pre-positioned oil all across the world |
| 1:49.9 | from Europe to Asia to the US market. |
| 1:53.6 | So I think that they could easily go a month |
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