Half of Saudi Arabia's oil production has gone offline following a surprise drone strike.

Drones attacked Abqaiq facility in Saudi Arabia and the Khurais oil field run by Saudi Aramco early Saturday morning, the kingdom's interior ministry said, sparking a massive fire at a crude processing plant essential to global oil supplies.

The closure will impact nearly 5 million barrels of crude processing per day, affecting 5 percent of the world's daily oil production. And while Aramco is confident that it can recover quickly, if it can't, however, the world could face a production shortage of as much 150MM barrels per month. An outcome which could send oil prices into the triple digits.

Houthi rebels-- who are backed by Iran in a yearlong Saudi-led battle in Yemen-- have apparently asserted responsibility for the strikes and pledged that more assaults can be expected in the future.
A Houthi spokesperson explained, “We promise the Saudi regime that our future operations will expand and be more painful as long as its aggression and siege continue," adding that the attack involved ten drones.

The Iran-backed Houthis have recently been behind a number of assaults on Saudi pipelines, vessels and other energy infrastructure as tensions grow in the region
There have been no details on the severity of the damage but Agence France-Presse quoted interior ministry spokesperson Mansour al-Turki as saying that there were no human casualties as a result of the attack.


Source: crudeoil.com

Middle East wahala affecting the entire global community.

Nigeria will surely cash in from this. More revenue for us

Saudi Arabia number 1 exporter of terrorism in the world.

Ibusho:
Nigeria will surely cash in from this. More revenue for us

wrong.
there's a glut in d market, plus d trade war, plus a possible recession.
d damage will be sorted by Tuesday, latest.
crude price myt bump up to $65 pb, but it'll slide again.
minwyl, Nigeria has about 4 supertankers full of crude.
u lack oil buyers already, which is why SA can chance u.
if buhari had any sense, he'd have made sure atiku won and run away.
d pepe wey dey com eh?
die fit meet am dia.

debaj10:
wrong.
there's a glut in d market, plus d trade war, plus a possible recession.
d damage will be sorted by Tuesday, latest.
crude price myt bump up to $65 pb, but it'll slide again.
minwyl, Nigeria has about 4 supertankers full of crude.
u lack oil buyers already, which is why SA can chance u.
if buhari had any sense, he'd have made sure atiku won and run away.
d pepe wey dey com eh?
die fit meet am dia.

Smart analysis...do you trade crude oil

Mykel51:


Smart analysis...do you trade crude oil

atol o!
lol
news junkie, is all.

debaj10:
atol o!
lol
news junkie, is all.

Oh ..okay