Things often change overnight and what used to be right becomes wrong. Until last week, oil producers feared cheap oil. Now, world crude oil prices are violently fluctuating after Saturday's drone attacks, which set ablaze two major oil installations in Saudi Arabia.
Yes, this is the Middle East that I have known for the past 41 years.
Usually reticent petroleum experts suddenly spoke out. Some said the attacks would only cause short-term disruption, predicting no serious impact on energy markets and the world economy. Others, on the contrary, stated that the drone strikes against the Abqaiq and Kurais facilities would be a recipe for $100 per barrel oil.
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