*Saudi Arabia’s total oil stocks were already at a 10-year low of 276.3mn barrels even before the 14 September attacks on the Abqaiq processing plant and Khurais field led to further drawdowns (MEES, 27 September).
*For crude, the 179.8mn barrel end-July figure in the latest Jodi data was the lowest since June 2007. It’s unclear why Saudi Arabia allowed stocks to dwindle by 34% (in total) and 45% (for crude) from their October 2015 peaks of 416.6 and 329.5mn barrels respectively. (CONTINUED - 228 WORDS)
