Attack on Saudi Oil

from Issue 4

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he attack on Saudi oil has taken a toll on crude oil across the world. The drone strike shut down 5% of the world’s supply of crude oil. This attack led to an increase of 15% on gas prices. These calculated drone attacks targeted the biggest petroleum factory in the world. The U.S. Government and Saudi Arabia have blamed Iran for this act of terrorism. As of yet, Iran denies any involvement in the attacks. Because of the drone strikes, oil prices have soared in Saudi Arabia and the rest of the world. This is expected to cause U.S. gas prices to rise by $0.10-$0.25 per gallon. This will also make gas prices that are already high in certain countries even higher. Saudi Arabia outsources 5 million barrels of oil a day. Losing half of their oil supply has serious economic effects on citizens across the globe. An attack such as this usually warrants drastic actions, but investigation is still underway. It seems that for now, we will just have to wait and see what happens in this devastating attack.