International

Analysts predict that if disruption to production lasts for too long. oil prices will spike.

A sharp rise in oil prices also comes at a delicate time for the global economy.

The demonstration of the oil sector’s vulnerability hasn’t come at a good time for the Saudis.

Saudi oil facilities as well as foreign tankers in and around the Persian Gulf have been the target of several attacks over the past year.

Spot prices at the Henry Hub have averaged $2.62 so far in 2019.

Iran'.s crude exports and production have plummeted because of the sanctions.

The 24-member OPEC and non-OPEC alliance decided last year to cut production by 1.2 million barrels per day (bpd) from January 2019.

The demand for OPEC crude will average 29.40 million barrels per day next year.

Iraq is on track to produce nearly six million barrels of crude per day by 2030.

The oil market has become highly sensitive to the US-China trade war.