Drone strikes knock out half of Saudi oil capacity, 5 million barrels a day

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Drone strikes on key Saudi Arabian oil facilities have disrupted about half of the kingdom's oil capacity, or 5% of the daily global oil supply

Yemen's Houthi rebels on Saturday took responsibility for the attacks, saying 10 drones targeted state-owned Saudi Aramco oil facilities in Abqaiq and Khurais, according to the Houthi-run Al-Masirah news agency.

The Saudi interior ministry had confirmed that the drone attacks caused fires at the two facilities. In a statement posted on Twitter, the ministry said the fires were under control and that authorities were investigating. The development comes as Saudi Aramco takes steps to go public in what could be the world's biggest IPO. Aramco attracted huge interest with its debut international bond sale in April. It commissioned an independent audit of the kingdom's oil reserves and has started publishing earnings. Over the past two weeks, the kingdom has replaced its energy minister and the chairman of Aramco.

 

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