MANILA -- PTT Philippines on Tuesday assured it has adequate supply of oil but continues to monitor price developments after the attack on oil facilities in Saudi Arabia.
In a statement, the oil company said it regretted Saturday’s drone attack on Saudi Arabia’s oil infrastructure that triggered a steep price surge in the petroleum market.
“Amidst this development, we would like to assure the public that we have enough supplies for the domestic consumption based on our current inventories,” it said.
“Nonetheless, we are closely monitoring any developments in the world market if the Saudi attacks will adversely affect the stability of the supplies of crude oil,” it added.
PTT Philippines further said it hoped the situation in Saudi Arabia would be resolved soon.
The Department of Energy (DOE) on Monday said it was still premature to give assessments on the impact of the attack on domestic oil prices, but stressed that it continues to monitor developments in the international market.
The attack was later on claimed by Yemen's Houthi rebels. (PNA)
