While the attack was substantial to Saudi Arabia psychologically, it did little physical damage.
It resulted in a fire that was controlled by the company, and no one was injured or killed. There was noAL-RUB AL-KHALI, SAUDI ARABIA: TO GO WITH AFP STORY SAUDI-OIL-SHAYBAH A general view shows 09 March 2004 the Shaybah mega-project, the first, and so far sole, oilfield development in Saudi Arabia's vast Al-Rub al-Khali desert, some 800 kilometersThis is just the latest in a long string of rocket and drone attacks against Saudi oil facilities, airports and urban areas.
What is striking about the large number of attacks by the Houthis on Saudi infrastructure is that so many have been incompetent failures. Some of the failures are due to rocket and drone defense systems deployed by Saudi Arabia. Yet, of those that hit their target, few have or structural damage. It’s unclear if the attacks can even be said to terrorize Saudi Arabia, because it seems they have not altered Saudi actions or behavior. What, then, is the purpose of these attacks?the Houthis in Yemen, so they are not intended to draw Saudi Arabia into that conflict. Perhaps they are intended to draw Saudi Arabia to retaliate against Iran. However, it is unlikely Saudi Arabia would do that.
Another possibility is that the Houthi attacks are an attempt to draw Saudi Arabia into actions in Yemen that would draw grater condemnation from the international community. What does this mean for the oil markets? As of now, Saudi Arabia isn’t facing significant threats that would disrupt the oil business. Aramco has redundancies to ensure that attacks would not disrupt oil delivery to its customers. In addition, the oil market today is much more concerned with
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