Operational activities have been halted at several energy facilities in Saudi Arabia following recent attacks, according to an official source at the Ministry of Energy cited by the Saudi Press Agency on Thursday. The attacks targeted oil, gas and electricity sites in Riyadh, the Eastern Province, and Yanbu Industrial City.
The attacks on Saudi energy sites caused a reduction in the kingdom’s oil production capacity of approximately 600,000 barrels per day, the Saudi Press Agency report stated.
The official speaking to the Saudi Press Agency said the continuation of attacks leads to reduced supply, slows recovery, and contributes to increased volatility in the oil market because they affect the security of supply for consuming countries. Oil prices jumped upward after a day of downtrend on Wednesday, as the world weighs the prospects of a shaky Iran-United States ceasefire and possibly the full reopening of the Strait of Hormuz.
However, the ceasefire has been placed in doubt, largely by Israel’s ongoing daily attacks on Lebanon and Iran’s attacks on Gulf countries after the announcement of the truce on Wednesday. Israel and the United States say that Lebanon was not part of the truce, but Iran and mediator Pakistan say it was included.
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No further details were provided by the Saudi Ministry of Energy regarding when full operations might resume. The official source reiterated that the security of supply for consuming countries is increasingly at risk as long as the attacks continue.
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