Saudi: Intercepted two drones heading toward Shaybah oil field

Saudi Arabia’s air defenses intercepted multiple drones targeting the Shaybah oil field, a critical asset with a production capacity of 1 million barrels of crude oil per day and a 2.4 billion standard cubic feet per day natural gas liquids recovery plant according to Bloomberg. According to the Ministry of Defense, four drones were destroyed over the Empty Quarter desert on March 7, while additional reports indicated 12 to 20 drones were intercepted in separate waves over the preceding days. The attacks occurred amid escalating regional tensions following the U.S. and Israel’s February 28 strikes on Iran, which triggered retaliatory drone and missile attacks by Tehran across the Middle East as reported by AA.

The Shaybah field, operated by Saudi Aramco, has become a focal point of recent hostilities. Earlier this week, the Ras Tanura refinery—a key facility for diesel production and exports—was forced to halt operations after sustaining limited damage from drone debris, prompting the diversion of crude exports to Red Sea ports. These disruptions have exacerbated volatility in global energy markets, with crude prices rising above $79 per barrel and gasoil futures surging over 20% following the refinery closures according to Financial Post.

The conflict has also disrupted shipping through the Strait of Hormuz, a vital artery for 14 million barrels of crude and 6 million barrels of refined products daily as Argus Media reports. Saudi Arabia has engaged in diplomatic efforts to de-escalate tensions with Iran, leveraging backchannel communications to prevent further escalation according to Bloomberg. Analysts warn that prolonged instability could sustain elevated energy prices and disrupt global supply chains, amplifying risks for investors in oil-dependent sectors.