OPEC says too early for any action on oil after #Saudi attacks - Reuters

OPEC says too early for any action on oil after Saudi attacks - Reuters:

OPEC is assessing the impact on the oil market from attacks on Saudi Arabian facilities and says it is too early for members to take any action on raising output or holding a meeting, the UAE energy minister and other sources said.

Oil surged on Monday to almost $72 a barrel, posting its biggest intra-day percentage gain since the Gulf War in 1991, after an attack on Saturday shut more than 5 million barrels per day (bpd) of output, or over 5% of global supply.

The United Arab Emirates’ energy minister said his country was able to boost output to deal with any supply disruptions, but it was too early to call for an emergency meeting of the Organization of the Petroleum Exporting Countries.