France says Gulf damage cuts oil supply by 11 million barrels a day

France says Gulf damage cuts oil supply by 11 million barrels a day French Finance Minister Roland Lescure said 30 to 40 percent of refining capacity in the Gulf has been damaged or destroyed, triggering an oil crisis, particularly in parts of Asia. “As a result, we are now facing an oil market where 11 million barrels per day are missing,” he said. Lescure added that talks with his Qatari counterpart indicated that 17 percent of the country’s gas production capacity has also been destroyed following attacks on energy facilities.

French Finance Minister Roland Lescure said 30 to 40 percent of refining capacity in the Gulf has been damaged or destroyed, triggering an oil crisis, particularly in parts of Asia.

“As a result, we are now facing an oil market where 11 million barrels per day are missing,” he said.

Lescure added that talks with his Qatari counterpart indicated that 17 percent of the country’s gas production capacity has also been destroyed following attacks on energy facilities.