• Pakistan stands with its full potential to confront the sabotage acts, PM told the crown prince.
  • Drone attacks on two major facilities of Saudi Arabia knocked out 5% of global supply.
  • Oil prices to likely spike due to the attack on Saudi oil plants.

Prime Minister Imran Khan offered Pakistan's full support to Saudi Crown Prince Mohammed bin Salman following the drone attacks on two major oil facilities there.

In a telephone call, both sides discussed bilateral and regional matters with special focus on the recent drone attacks. The premier said that Pakistan stands with its full potential with the Kingdom in confronting the sabotage acts which threaten the world economy and Saudi Arabia's security, local media reported.

On Saturday, two major facilities run by Saudi Aramco came under attack knocking out more than half of crude output from the exporter that is five percent of the global oil supply. The drone attacks were claimed by Yemen's Houthi rebels. The rebels also threatened to carry out more strikes and urged foreigners to stay away.

Since the attack, it is likely that prices will spike up if the kingdom fails to quickly resume oil supply lost in the attack. Prices are expected to go up by up to Rs 12 in coming days.

Copyright Business Recorder, 2019