A drone attack launched by Yemen’s Houthi group on an oilfield in the Eastern Region of Saudi Arabia on Saturday caused a fire at a gas plant but had no impact on oil production, state-run oil company Saudi Aramco said. The remote Shaybah field produces around one million barrels per day, just under 10 percent of Aramco’s total production capacity. The attack led to an increase in the price of oil. In other news, a senior Aramco executive has reportedly said that the company is ready for its initial public offering but the timing of the deal is solely controlled by the Saudi government.

To read more about this and more of this week’s news from the Kingdom of Saudi Arabia, click here.

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