Saudi Aramco, the kingdom’s state-owned oil company, said that it had suspended production of 5.7m barrels of crude oil
THE ARTERIES through which oil flows from Saudi Arabia, the world’s biggest exporter, to consumers across the world have always been the most tempting of targets. Sever them—the country’s long pipelines, pumping stations, storage tanks and great refineries—and it is not just the kingdom that bleeds, but the global economy. Others have tried, but failed. In 2006 Al-Qaeda’s suicide bombers staged an attack on Abqaiq, the world’s largest oil-processing facility, in eastern Saudi Arabia.
For Saudi Arabia the origin of the attack is almost immaterial. It traces this attack, like previous ones, to its arch-nemesis Iran, which supplies money and weapons to the Houthis and other regional militias. The missiles used to hit Aramco’s facilities were almost certainly based on Iranian models.
The Aramco attack may yet swing Mr Trump back to his earlier, hawkish stance, particularly if it drives up oil prices. But his options are limited. Iran’s battered economy has few targets left to sanction. A few hawks in Washington, like Lindsey Graham, a Republican senator, have talked of a military response. Mr Trump ordered air strikes on Iran in June, after it shot down an American drone, but cancelled them at the last minute after deciding they were disproportionate.
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