The world woke up on Monday to a sight that global energy markets have long feared: smoke rising from the Arabian Gulf’s industrial heart. For the second time in less than a decade, Saudi Aramco’s infrastructure has become a primary target in a direct clash between regional powers.
As per reports from local media outlets in Saudi Arabia, at least two Iranian drones (identified by some as Shahed-136 models) targeting the Ras Tanura located at the heart of Saudi’s national oil infrastructure developed by Aramco were intercepted by the state earlier today.
Following the attack, Saudi’s Ras Tanura oil refinery, one of the world’s largest oil refineries, has temporarily halted operations. Ras Tanura, located near Dammam, has a daily crude oil production capacity exceeding half a million barrels.
In a statement to local media outlets, Saudi’s defence forces confirmed that the incoming aircraft were intercepted before reaching critical infrastructure. Online footage from the site showed thick black smoke rising.
Explaining the reason behind the smoke, geopolitical and oil supply chain experts interviewed by Al Jazzera explained that even intercepted drones can produce debris capable of starting fires and causing injuries, something that’s been visible across the better part of the Middle East in recent hours.
Notably, this isn’t the first time Aramco has been in the crosshairs. In September 2019, a similar but far more devastating attack struck the Abqaiq and Khurais facilities. That strike, which the U.S. and Saudi Arabia attributed directly to Iran, knocked out 5.7 million barrels of daily production.
What is Aramco?
Saudi Aramco (officially the Saudi Arabian Oil Company) is the national oil company of Saudi Arabia. It is not just a company; it is the backbone of the Saudi economy and one of the single most important entities in the global energy market.
Aramco is known for managing the world’s largest proven crude oil reserves (over 260 billion barrels) and has the highest daily production of any company. Because it can produce oil at a lower cost than a lot of competitors, Aramco acts as the “swing producer” that is often expected to boost supply in cases of global disruption.
The heart of Aramco: Ras Tanura refinery
Saudi’s Aramco recently confirmed the temporary closure of Ras Tanura refinery, a massive complex with a capacity of 550,000 barrels per day (bpd). While Aramco is a sprawling network of fields and pipes, Ras Tanura is the node through which much of the world’s energy flows.
As per experts interviewed by Reuters and Middle East Council on Global Affairs any disruption to the oil operations at Aramco can rapidly increase the vulnerability of the global oil supply chain that’s already on the spotlight after the closure of the Strait of Homruz.
Why strike oil fields?
Experts writing for Al Jazeera and the Middle East Council suggest Iran’s logic is purely economic. By targeting the Gulf’s “economic arteries”, Tehran aims to drive up gas prices to pressure the U.S. government from within and punish Gulf neighbors for their perceived alliance with the U.S. and Israel.
As per the experts cited by the Middle East Council on Global Affairs, Iran’s recent move suggests a strategy to force a ceasefire by making the cost of war too high for the global economy to bear.
The impact was felt instantly in the market. Brent crude prices recorded an initial jump 13% on Monday, hovering above the $80 per barrel mark as traders reacted to the supply risk.
In an official statement released on March 1, 2026, the Gulf Cooperation Council (GCC) called the attacks “treacherous” and a “serious violation of sovereignty,” noting that the Gulf states had maintained neutrality throughout the conflict.