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Attacks on Saudi Oil Facilities Knock Out Half Kingdom's Supply

Monday, 16 September 2019 23:23 WIB Global

Yemen's Iran-aligned Houthi group said it attacked two plants at the heart of Saudi Arabia's oil industry on Saturday, knocking out more than half the kingdom's output, in a move expected to send oil prices soaring and increase tension in the Middle East. The attacks will cut the kingdom's output by 5.7 million barrels per day (bpd), according to a statement from state-run oil company Saudi Aramco, or more than 5% of global oil supply. The pre-dawn strikes followed earlier cross-border attacks on Saudi oil installations and on oil tankers in Persian Gulf waters, but these were the most brazen yet, temporarily crippling much of the nation's production capacity. Saudi Arabia is the world's...

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