Turmoil in Yemen As a Long-Term Oil Market Factor
... OMV, US Occidental Petroleum Corp, Norwegian DNO ASA and others evacuated their expatriate staff and significantly scaled back or completely shut down production in Yemen. On March 25, when a Saudi Arabia-led coalition launched airstrikes against Shia Houthis in Yemen, oil prices rallied with Brent increasing by $3 in one day. The effect of a surprise military campaign was short-lived and didn’t produce much change in the market. Yet for as long as the security situation remains uncertain in Yemen and Saudi Arabia ...
13.04.2015