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Saudi Aramco says July attacks did not disrupt output capacity

BNY cites Aramco’s CEO saying the company still has full 12 million barrels per day capacity available and can ramp up quickly as export routes face Strait of Hormuz and Red Sea risks.

Reported · Written up by our desk · FX Futures

Oil market geopolitics has remained elevated after July attacks, but Saudi Aramco does not expect them to cause material operational or financial damage, according to BNY’s Geoff Yu.

BNY reports Aramco points to alternative pipelines, storage, and export terminals that it says helped preserve output.

Aramco’s CEO Amin Nasser said the company’s full 12 million barrels per day capacity remains available and could be ramped up quickly, while the company also works to expand export flexibility amid risks around the Strait of Hormuz and the Red Sea.

FXStreet notes additional market commentary tied to this backdrop, including a snapshot of GBP/USD trading around 1.3420 and a view of oil supply resilience alongside geopolitical risk.

Latest closeGBP/USD 1.343 ▼0.2%

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