Globally there has not been a shortage of oil for years but the attack on Saudi Arabia has caused  considerable disruption to supplies. This will eat into the spare capacity held around the globe in and out of Opec countries, who supply a lot less of the daily global oil requirement than they used to. With most of the world's motor manufacturers pouring their development efforts into electric vehicles, this is unlikely to change.

 Richard Price of ICIS, the world's largest petrochemicals market information provider details the consequences of this attack.  Read more [0]