Despite the September 14 drone attack on the Abqaiq oil refinery and Khurais oil field, that knocked out half of Saudi Arabia's total output and 5 per cent of global oil supply, Riyadh has assured India there will be no disruption in oil supplies.
The fallout from the Sept. 14 attacks is still reverberating as world leaders gather for their annual meeting at the U.N. General Assembly and international experts investigate, at Saudi Arabia’s request, what happened and who was responsible.
US Treasury Secretary Steven Mnuchin, accompanying Trump in the Oval office, said the central bank was Tehran's last source of funds.
The explosions set off fires that took several hours to douse. The strikes, said to have involved at least 20 drones and several cruise missiles, forced Saudi Arabia to shut down half of its oil production capacity, or 5.7 million barrels per day of crude - 5 per cent of the world's global daily oil production.
A worried UN Secretary-General Antonio Guterres has warned of "devastating" consequences for the region and the world if the crisis escalates. A UN team of experts has been dispatched to Saudi Arabia to investigate the weekend attack on two oil facilities of Aramco amid assertions by the US and Saudi Arabia that Iran was behind the hit.
Petroleum Minister Dharmendra Pradhan, who said earlier that India is keeping a close eye on the oil crisis in Saudi Arabia, called up Saudi Oil Minister Prince Abdulaziz bin Salman on Thursday and was assured that Riyadh would be meeting all of India's oil supply commitments. The Kingdom has announced it is looking to restore production very soon.
U.S. Secretary of State Mike Pompeo on Wednesday called the attack on Saudi Arabia’s oil installations an “act of war” against the kingdom by Iran, as the Saudis displayed missile and drone wreckage and cited other evidence they said shows the raid was “unquestionably sponsored by Iran.”
The Saudi government called the attack an “unprecedented act of aggression and sabotage” but stopped short of directly pinning blame on Iran.
That led to the interruption of an estimated 5.7 million barrels in crude supplies, authorities said while pledging the kingdom’s stockpiles would make up the difference. The amount Saudi Arabia is cutting back is equivalent to over 5% of the world’s daily production.
No one immediately claimed responsibility for the attacks in Buqyaq and the Khurais oil field, though Yemen’s Houthi rebels previously launched drone assaults deep inside of the kingdom.
The functioning of these drones is stipulated to be inspired by the Balakot airstrike. ALFA-S or Air-Launched Flexible Asset (Swarm) is the name given to the drones.
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