A drone strike that knocked out half of Saudi Arabia's oil production could lead to higher oil prices globally, according to analysts.
The production shutdown amounts to about 5% of the world's daily production of crude oil, or roughly 5 million barrels. The Saudi index fell 2.3% at the opening on Sunday before recovering, Reuters reported. Visit the Markets Insider homepage for more stories. On Saturday, a drone strike on two major Saudi Arabian oil refineries knocked out about half of the country's oil production.
The production shutdown amounts to about 5% of the world's daily production of crude oil, or roughly 5 million barrels. The Saudi index fell 2.3% at the opening on Sunday before recovering, Reuters reported. Visit the Markets Insider homepage for more stories. On Saturday, a drone strike on two major Saudi Arabian oil refineries knocked out about half of the country's oil production.
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