Saudi Arabia's Aramco Halts Operations at Abqaiq Oil Facility After Houthi Attack

Saudi Arabia's state-owned oil company Aramco has suspended operations at its Abqaiq oil processing and stabilisation facility following a Houthi attack on Monday, July 28th.

The Abqaiq facility is considered one of the largest crude oil processing facilities in the world, with an estimated capacity to process over 7 million barrels per day. The suspension of operations at this facility will likely have significant implications for global oil markets and prices.

The Houthi attack on Monday marked the second major assault on Saudi Aramco's infrastructure in recent months, highlighting ongoing tensions between the Saudi-led coalition and Yemen's Houthi rebels.