Top crude exporter Saudi Arabia on Monday said that Yemeni rebel attacks on the kingdom’s oil facilities pose a “direct threat” to global supplies.
Saudi Arabia “will not incur any responsibility” for shortages in oil supplies in light of the Iran-backed Houthi attacks, the Saudi Arabian Ministry of Foreign Affairs said.
These cross-border assaults are a “direct threat to the security of oil supplies in these extremely sensitive circumstances witnessed by the global energy markets,” it added.
Photo: EPA-EFE/Kuwaiti News Agency handout
The statement came a day after the kingdom acknowledged a temporary drop in production after Houthis attacked a refinery with an armed drone.
The EU on Monday condemned the “large-scale missile and drone attack.”
“Such attacks targeting civilians and civilian infrastructure, are completely unacceptable and must stop,” the EU said a statement.
“The European Union urges all parties of the conflict in Yemen to engage constructively with UN Special Envoy Hans Grundberg to achieve a comprehensive political agreement. This remains the only option to end this war,” it said.
Oil prices have repeatedly spiked above US$100 per barrel, driven by supply concerns centered on Russia’s invasion of Ukraine.
On Monday, oil prices rose higher again. Brent crude was up more than 6 percent to more than US$114 per barrel at one stage.
Analysts said that the main mover of the market was news of the EU considering a ban on Russian oil imports, although the Houthi attacks on Saudi Arabian Oil Co (Aramco) were also cited.
The drone assault on the Yasref refinery in Yanbu Industrial City on the Red Sea “led to a temporary reduction in the refinery’s production,” the Saudi Arabian Ministry of Energy said on Sunday.
It said the drop would “be compensated for from the inventory,” but did not provide numbers.
The Iran-backed Houthis, against whom Saudi Arabia leads a military coalition in Yemen, have repeatedly targeted the kingdom, including sites belonging to Aramco.
The Yemeni rebels on Sunday said that they had launched cross-border drone and missile attacks that targeted a number of “vital and important” establishments.
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