Iraqi Drones Attack Saudi Oil Pipeline, Oil Prices Set to Surge
Critical oil pipelines in Saudi Arabia have been forced to shut down following a bombardment by a series of unmanned aerial vehicles (drones) launched from Iraq. The successive attacks ignited the surrounding terrain, triggering thick plumes of smoke and resulting in several injuries and damage to vital facilities.
According to the BBC, the drone strikes against the pipeline network were confirmed to have originated from the Maysan province in Iraq, which shares a direct border with Iran. The 1,200 km pipeline serves as an energy lifeline, transporting approximately 4% to 5% of the total global oil supply and acting as a primary route for Saudi Arabia to bypass the volatile Strait of Hormuz.
In response to the attacks originating from its territory, the Iraqi government has launched an in-depth investigation and dismissed the military operations commander in Maysan province.
Meanwhile, the Riyadh government confirmed on Friday the closure of the pipeline as a precautionary measure. Following a telephone call with the Iraqi Prime Minister, Saudi Arabia chose to refrain from retaliatory strikes and supported Baghdad’s efforts to prevent similar incidents.
“The Kingdom of Saudi Arabia asserts its right to take all necessary measures to maintain its sovereignty and security, protect its facilities, and ensure the safety of its citizens and residents,” the statement emphasised.
The lethal attack immediately provoked the anger of the Gulf Cooperation Council (GCC), which includes the United Arab Emirates, Bahrain, Oman, Qatar, and Kuwait. GCC Secretary-General Jasem Mohamed Albudaiwi highlighted the danger of an escalating crisis spreading across the region.
“This attack is a dangerous escalation and an unacceptable threat to the security of the Kingdom of Saudi Arabia, its territorial integrity, and its vital installations, as well as a blatant violation of the principles of international law,” he explained.
The forced closure of the oil pipeline due to the drone attacks in the north further exacerbates the energy supply crisis, especially amidst the rapid advances of Houthi rebels in Yemen this week.
As the US-Iran war enters its seventh month, the Houthi group claims to have successfully seized control of much of the Yemeni coastline, including the Bab al-Mandab Strait, which is a major shipping gateway to the Red Sea and the Suez Canal.
Strikes from both sides of the Arabian Peninsula have immediately driven crude oil prices to rocket beyond US$100 per barrel for the first time since July.
“Maritime navigation is safe for all companies except for Saudi ships,” claimed the Houthi group.