Fallout from Saudi Oil Facility Attack

Khurais_Oil_Processing_Facility,_Saudi_Arabia_by_Planet_Labs, cc Planet Labs Inc., modified, https://commons.wikimedia.org/wiki/File:Khurais_Oil_Processing_Facility,_Saudi_Arabia_by_Planet_Labs.jpg


A series of attacks on the Aramco facilities in Saudi Arabia took place on September 14. The targeted facilities at Abqaiq and Khurais – both in the east of the country – process nearly 70% of Saudi crude, and their removal from the domestic supply chain has led to a bout of explosive price volatility in global energy markets.

The incident highlights the fragility of global supply in the world’s top oil exporter, and with US and Saudi government officials pointing the finger at Iran, it portends a further turning of the screws against the Islamic Republic.

But with the US sanction regime already ramped up to ‘maximum pressure,’ are there any screws left to turn short of military conflict?

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