Norway Economy Strenghtens After the Drone Attack in Saudi Arabia

The drone attack against Saudi Arabia’s oil plants raises oil prices by almost 15 percent.

The price of Brent oil surged on Monday in response to the drone attack on Saudi Arabian oil platform.

The 14.6 per cent price increase started as soon as markets opened on Monday night. After a short period of falling, price of a barrel for North Sea oil increased to almost $ 72, and remained at US $ 69.02.

This is the biggest percentage increase recorded since 1988, writes Reuters.

The Norwegian economy is strengthened

The Norwegian krone has already begun to strengthen against the Euro with the increase in oil price. Russian currency has gained the most from the attack. Russia has in recent years risen to become the world’s largest exporter of oil.

The drone strikes that hit two oil plants in Saudi Arabia last Saturday have forced the country to halt more than half of its oil production. This led to more demand from other oil producers including Norway.

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