Saudis Worry about Most Popular Oil Grade Shortage

[Marina Schwarz + 1,576]

"Saudi Arabia is running low on its most prized grade of crude, people familiar with the matter said, a development that could push oil prices higher.

After coming under pressure from the Trump administration over rising oil prices, Saudi Arabia is set to use an oil-producers’ summit in Algiers on Sunday to reassure oil markets that it can fill any shortages that arise as U.S. sanctions restricting Iranian oil sales begin in November.

But state-run oil giant Saudi Arabian Oil Co., known as Aramco, is telling potential buyers that its most highly prized crude will be in short supply in October after it underestimated the demand in advance of Iranian sanctions. And in the longer term, officials estimate Aramco wouldn’t have the capacity to meet future demand if Iran is no longer delivering oil, according to people familiar with the matter."

[Epic + 390]

I feel like I need more information to know how much this article matters?  For instance, which is Saudi Arabia's most prized grade?  Is it super light crude?  Secondly, what percentage of this grade does Saudi produce vs. the other grades? 

I would imagine the numbers are pretty significant if it could push oil to $100 (says a random, unidentified oil trader).  

I feel like the quality of journalism at the WSJ has been declining at a rapid pace.  The WSJ seems to give us just enough information to make a bad oil/stock trade, but not enough info to allow the readers hold the author of the articles accountable for their poor journalism skills.     

[Marina Schwarz + 1,576]

It's not just the WSJ, I'm afraid.