*The US’ reliance on crude from Saudi Arabia is small and falling. Imports from Saudi Arabia fell to a mere 395,000 b/d for July (the most recent official monthly data), the lowest monthly figure in 32 years. And it’s not just Saudi, overall Gulf volumes at 764,000 b/d for July are also at their lowest level since 1987 (see chart).
*Saudi Crown Prince Muhammad Bin Salman in a 29 September interview with CBS listed the US first, ahead of China, in the countries disrupted by the 14 September attack on the kingdom’s oil production. “This attack didn’t hit the heart of the Saudi energy industry, but rather the heart of the global energy industry. It disrupted 5.5% of the world’s energy needs, the needs of the US and China and the whole world.” (CONTINUED - 186 WORDS)
