The secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) has called the attack on a petroleum products distribution station in north Jeddah, Saudi Arabia, a terrorist act. In a statement on Tuesday, OPEC chief Mohammad Sanusi Barkindo said: "Acts of sabotage such as this are detrimental to energy supply security for both producers and consumers and can lead to much uncertainty and volatility. We were extremely pleased to hear that firefighters were able to extinguish the fire quickly and there were no reports of injuries or casualties." "The swift response and the fact that Saudi Aramco's supply of fuel to its customers was not affected, meant it had no meaningful impact on the market," the statement read. "The incident follows on from the recent incident near a floating platform for an oil distribution station in Jazan and the September 2019 terrorist attack on oil installations in Abqaiq and Khurais, which were again focused on cutting off energy supplies and creating instability on oil markets, as well as the global economy," the statement added. Barkindo added in the statement that OPEC stands against any acts of terror and sabotage, and is firmly committed to market stability and remaining a dependable, reliable source of supply for its customers worldwide. Meanwhile, the International Energy Agency said that the attack on oil facilities in Jeddah, Saudi Arabia, is a reminder of the need to remain vigilant for threats to energy security. The IEA added that it is closely monitoring the situation, emphasizing that global oil markets remain well supplied as things stand. — SG
