Saudi Arabia says oil supply to continue to flow despite Riyadh attacks

Saudi Arabia pledged to maintain its oil supply despite a series of attacks on the country, asserting its steadfastness and resolve against escalating threats. Saudi Energy Minister Prince Abdulaziz bin Salman declared "The word 'fear' in the Saudi dictionary does not exist," emphasizing the kingdom's unwavering determination during the WPC Energy Congress' opening on Monday.

The attacks, primarily carried out by Iran-backed Houthi rebels in Yemen, targeted King Khalid International Airport in Riyadh four times within a five-day period, resulting in casualties and significant injuries.

Despite these security risks, Saudi Arabia is set to continue participating in a series of high-level energy meetings, including the International Energy Forum ministerial talks and the WPC congress, both of which the kingdom is hosting for the first time. Prince Abdulaziz reiterated that Riyadh remains the capital of energy security, reassuring attendees that the risks have not diminished.

He highlighted the Saudi-led coalition's efforts to keep oil flowing, attributing the kingdom's resilience to decades of investment in storage, redundancy, and alternative export routes.

Key infrastructure such as the East-West pipeline, which transports crude from eastern oilfields to the Red Sea port of Yanbu, bypassing the Strait of Hormuz, was cited as a critical component of Saudi Arabia's energy security strategy. However, disruptions have been observed, with the flow halted after Houthi attacks in September before recovering to approximately 5.8 million barrels per day by October 6, falling short of the kingdom's seven-million-barrel-per-day capacity.

Prince Abdulaziz emphasized that while infrastructure is vital, it requires the expertise of skilled professionals to maintain and restore operations.

The Saudi-led coalition blamed the Houthi rebels for the airport attacks, but the kingdom remains committed to supplying both domestic and international customers "regardless of circumstances." Amid a volatile market backdrop, with Brent crude trading around $104 a barrel following the recent attacks and strikes on tankers near the Strait of Hormuz and Oman, Prince Abdulaziz acknowledged the seriousness of the situation and pledged a serious response to ensure energy stability.