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What has happened in Saudi Arabia is just unbelievable. The drone attacks by Houtis on its oil installations have inflicted a drastic damage on the kingdom's economy which heavily relies on oil production and refinement. It is, however, encouraging to note that Saudi Arabia is said to be on track to quickly its oil production lost to devastating attacks, as it scrambles to soothe market jitters ahead of a mega stock listing. Saudi Arabia has urged the world's governments to confront drone attacks on its installations 'regardless of their origin'.

The incident has raised the spectre of a wider conflagration in a region which is already beset with militant violence, state-sponsored terrorism and proxy battles.



Copyright Business Recorder, 2019

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