Saudi Arabia Shuts Down About Half Its Oil Output After Drone Strikes
Saudi Arabia Shuts Down About Half Its Oil Output After Drone Strikes by Summer Said and Jared Malsin - Wall Street Journal
A coordinated drone strike hit at the heart of Saudi oil production on Saturday, sparking an enormous blaze and forcing the kingdom to shut down about half of its crude output, according to people familiar with matter.
Iran-alled Houthi rebels in neighboring Yemen claimed responsibility for what would be one of their largest-ever attacks inside the kingdom.
The Saudi production shutdown amounts to a loss of about five million barrels a day, the people said, roughly 5% of the world’s daily production of crude oil. The kingdom produces 9.8 million barrels a day.
The strikes on facilities in Saudi Arabia’s Eastern Province mark the latest in a series of attacks on the country’s petroleum assets in recent months, as tensions rise among Iran and its proxies like the Houthis, and the U.S. and partners like Saudi Arabia…