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Saudi Arabian state-owned petroleum and oil-trade company
Saudi Aramco, officially the Saudi Arabian Oil Company, is a majority state-owned petroleum and natural gas company, and the national oil company of Saudi Arabia. As of 2024, it is the fourth-largest company in the world by revenue and is headquartered in Dhahran. Saudi Aramco has both the world's largest proven crude oil reserves, at more than 270 billion barrels, and largest daily oil production of all oil-producing companies.
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Aramco's headquarters has been hit, flights are suspended and oil prices are rising. The IMF warns that the economic fallout from attacks on Saudi Arabia could be felt worldwide.
The IMF warns that escalating Houthi attacks on Saudi Arabia and growing disruptions to Middle Eastern energy shipments could have serious consequences for the global economy.
Both the Houthis and the Saudi-led coalition carried out strikes targeting energy infrastructure. Four people were injured as a result of debris of intercepted missiles in Riyadh.