Posts in tag
Saudi Arabian Oil
Saudi Oil Stranded in Supertankers as Backlog Piles Up
Saudi Arabia’s oil-price war with Russia flooded the market with crude. Now, with demand having dried up and buyers hard to find, the kingdom is resorting to storing much of it at sea. At least one in 10 supertankers around the world is serving as a floating oil storage facility, Saudi oil officials say. With …
Drone Strikes Spark Fires at Saudi Oil Facilities
Drone strikes caused fires that raged at two facilities of Saudi Arabia’s vast state oil company, the country’s interior ministry said, in what Yemen’s Houthi rebels described as one of their largest-ever operations inside the kingdom. The strikes mark the latest in a series of attacks on the country’s petroleum assets in recent months, as …