Drones destroyed half of Saudi Aramco oil well

Drones destroyed half of Saudi Aramco oil well
Photo from Ahmed Alsalman

A recent report shows that a rebel group in Yemen and operating also in Saudi Arabia has launched several weaponized drone strikes on Saudi Aramco Khurais Oil well in Abqiyq facility. The group, Houthi rebels, has claimed responsibility for the attack. The rebels want Saudi Arabia to pool out of the conflict in Yemen which started in 2015.

The report shows that Houthi rebels are sponsored by Iran. They had the promise to attack more oil facilities in the country. The destruction of Saudi Aramco oil well may result in a 5 percent loss of the worlds oil daily production, said the interior minister for Saudi King. As a result, it may spark up the world's oil price.

Recent crude oil price recently 60.25 USD may triple within weeks if nothing is done about it. But the company Saudi Aramco, which oil field was destroyed believes it can recover within weeks. But if this doesn't happen could triple the price of crude oil and 150 million Los of the world crude oil production per month.

This may be challenging to Saudi Arabia. But a blessing to other OPEC member as a result of an impending price hike in crude oil. Nigeria, which is til fighting out of its the mono economy, may benefit from this upheavals.

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