Saudi Arabia says won't 'bear any responsibility' for oil prices as Houthi attacks affect production

The militias launched missile and drone strikes on Kingdom’s critical energy facilities, sparking a fire at one site and temporarily cutting oil production at another

(FILES) This file handout photo obtained on January 30, 2011 energy giant Saudi Aramco, shows the Saudi Oil Company's acid gas handling and enrichment area at the Haradh Gas Plant, east of the capital Riyadh. - Russia's assault on Ukraine is reverberating in the energy-rich Gulf, where top oil and gas producers face economic and political dilemmas in easing sky-high prices and alleviating shortages in Europe. As oil prices broke past $100 per barrel and risks of supply disruptions grew, eyes in Europe were increasingly focusing on oil kingpin Saudi Arabia, and Qatar, one of the biggest natural gas exporters. (Photo by JOE LYNCH / Saudi Aramco / AFP) / NO USE AFTER MARCH 26, 2022 08:12:58 GMT - === RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / HO /ARAMCO" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS === - === RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / HO /ARAMCO" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS === /

By Web Desk

Published: Mon 21 Mar 2022, 4:27 PM

Saudi Arabia says it won’t ‘bear any responsibility’ for oil prices as Yemen's Houthi militants attack has affected kingdom’s production.

An official source in the Ministry of Foreign Affairs stated that the Kingdom will not incur any responsibility for any oil shortage in the global markets, reports Saudi press agency.

The Houthi militias on Sunday launched missile and drone strikes on Saudi Arabia’s critical energy facilities, sparking a fire at one site and temporarily cutting oil production at another.

The attacks did not cause casualties, the Saudi-led military coalition fighting in Yemen said, but struck sites belonging to one of the world’s most important energy companies and damaged civilian vehicles and homes.

The coalition also said it destroyed a remotely piloted boat packed with explosives dispatched by the Houthis in the busy southern Red Sea.

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The Kingdom stresses the importance of the international community to realise the gravity of Iran’s continuous support of equipping the Houthi militias with ballistic missiles, and advanced UAVs.

According to SPA, the rebel group targeted the Kingdom's production sites of oil, gas and refined products, resulting in serious consequences for upstream and downstream sectors affecting the production capability and it's ability to fulfil its commitments, undermining without a doubt, the security and sustainability of energy supplies to global markets.

The official source highlighted the importance of the International community undertaking its responsibility to preserve the energy supplies and stand firm against the Houthi terrorist militias, deterring their malicious attacks that represents direct threat to the security of oil supplies in these extremely sensitive circumstances witnessed by the global energy markets.