Abqaiq Is a Warning That Oil Markets May Be Misreading

While the dust is settling and facts emerge, it is clear that the latest attack on Saudi Aramco’s Abqaiq oil-processing complex is rapidly becoming one of the most consequential energy developments of 2026. The event should not be assessed on the basis that it has immediately removed millions of barrels of oil from international markets, but rather because it exposes a vulnerability that traders, governments, and investors have largely assumed no longer existed. At present, oil prices are not showing any real impact; levels are restrained. At the…