On September 14, drone attacks -- claimed by Yemen's Houthi rebels -- hit the heart of Saudi Arabia's oil production facilities. These attacks took out 5.7 million barrels per day, which is half of Saudi production and 5% of global oil production, and sent benchmark oil prices up a fifth to almost $72.
The attacks have elevated regional and global tensions, and oil prices remain higher than before. In the short term, Asian countries should not panic -- but this is a timely reminder that these economies need to prepare themselves and protect their fuel supplies in case similar attacks -- or worse -- recur.
