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YGRN - Swift Loadings After Attacks Demonstrate Resilience Of Saudi Oil Industry
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
The steepest single day fluctuation in oil history took place when Brent crude price skyrocketed by 19 percent to $71.95 per barrel on the market opening on Monday. It followed the attacks on the world's largest crude oil processing facility in Saudi Arabia - itself the world's largest oil exporter and the only swing producer with spare capacity in excess of 2 million barrels per day (bpd).
OPEC's biggest and most influential member produced 9.77 million bpd in August and exported around 7 million bpd, according to Platts.