Explosions halve Saudi output and reduce global production by 5%

Global supplies of oil are likely to suffer a “major jolt” following Saturday’s attack by a swarm of explosive drones on the world’s biggest oil processing plant in Saudia Arabia.

Major fires engulfed the Abqaiq processing facility and the Khurais oil field after the attack, for which Houthi rebels in Yemen claimed responsibility. They said they launched 10 drones with “intelligence cooperation from people inside Saudi Arabia”, according to the rebel-run Saba news agency. The rebels’ spokesman Yahya Saree said their operations “will expand and would be more painful as long as the Saudi regime continues its aggression and blockade” on Yemen, he said.The fires are now under control at both facilities, Saudi state media said.