Not responsible for oil shortages, says Saudi Arabia after attack on facility

Riyadh: Saudi Arabia’s Ministry of Energy on Friday said that the kingdom will not bear responsibility for the lack of oil supplies in global markets caused by Houthi attacks on its oil facilities.

This comes after the Houthi attack on Saudi’s Aramco facilities, the Saudi Press Agency (SPA) reported.

Petroleum products distribution stations in Jizan and Jeddah were attacked with missiles on Friday however no casualties were reported, the ministry added.

MS Education Academy

The ministry stressed that these attacks not only target the Kingdom, but also destabilize the security and stability of energy supplies in the world, and thus negatively affect the global economy, especially in these extremely sensitive circumstances that the world and markets are witnessing.

The ministry has called on the countries of the world and its organizations to stand against these attacks and to confront all the parties that carry out or support them.

Saudi Arabia is the largest oil exporter in the world with about seven million barrels per day, and the third-largest producer with 10 million barrels per day after the United States and Russia.

On September 14, 2019, Riyadh announced the control of two fires that occurred in the Abqaiq and Khurais facilities of Aramco, in the east of the Kingdom, as a result of their targeting by drone attacks, which were claimed by the Yemeni Houthi group.

At that time, the attacks prompted a halt in crude oil supplies of about 5.7 million barrels per day, or about 50 percent of Aramco’s production, in addition to two billion cubic feet of associated gas.

Oil price hike

Oil prices rose on Friday, after losses incurred at the beginning of dealing with the trend of traders to buy after the attack that hit the storage facility of the state-owned Saudi Aramco oil company.

Brent crude rose 1.4 percent to $120.65 a barrel, and US West Texas Intermediate crude rose 1.4 percent to $113.9.

Subscribe us on The Siasat Daily - Google News
Back to top button