Houthi rebels from Yemen carried out drone attacks on two major Saudi Aramco oil facilities, in Abqaiq and Hijrat Khurais in Saudi Arabia.
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Abqaiq oil processing facility, operated by Saudi Aramco in Buqyaq, Saudi Arabia is the world's largest oil processing facility.
The attacks have impacted Saudi Arabia’s oil production and exports, and in turn the global oil market. The attack has cut output by 5.7 million barrels per day. That is close to half of the kingdom’s output, and 5% of global oil supply.
Saudi Arabia, the world’s top oil exporter, ships more than 7 million barrels of oil to global destinations every day. The output cut is expected to send oil prices up $3-$5 per barrel.
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