It is not just about Saudi Arabia when half of Aramco's production stops. A portion of the consequences of this can be understood from the US president's statement that he has authorized the use of strategic oil reserves.

Saudi Arabia has shut down its crude oil pipeline to Bahrain after attacks on Saudi oil facilities, two trade sources told Reuters on Monday.

The Bahraini Ministry of Foreign Affairs said that it "strongly condemns the terrorist attack that targeted two Aramco oil facilities in Buqayq and Hijrat Khurais in the Kingdom of Saudi Arabia."

Oil prices surged more than 15% at the open on Sunday after an attack on Saudi Arabia's oil facilities on Saturday that knocked out more than 5% of global oil supply.

Iran would need three days to lift its oil production back to the level it was at before U.S. sanctions were imposed, the semi-official Mehr news agency quoted Iranian Oil Minister Bijan Zanganeh as saying on Tuesday.

Iran has deployed a naval destroyer with long-range cruise missile systems to the Gulf of Aden to provide security for Iranian ships travelling through the region, state-run Press TV reported on Monday.

A highly placed Gibraltarian government source denied on Tuesday an Iranian news agency report which said the Iranian oil tanker Grace 1 would be leaving the British overseas territory on Tuesday.

Saudi Arabia aims to raise the capacity of its east-west pipeline by 40% in two years so more of its oil exports can avoid passing through the Strait of Hormuz, the energy minister said on Thursday.

Britain has started sending a warship to accompany all British-flagged vessels through the Strait of Hormuz, a change in policy announced on Thursday after the government previously said it did not have resources to do so.

OPEC members Saudi Arabia and Kuwait have discussed resuming oil production in jointly operated fields in the Saudi-Kuwaiti Neutral Zone, Kuwaiti state news agency KUNA said on Wednesday.

Qatar-based Al Jazeera TV on Wednesday quoted the military adviser to Iran's supreme leader as saying that any change in the status of the Strait of Hormuz, which Tehran says it protects, would open the door to a dangerous confrontation.

The Swedish-based operator of the British-flagged tanker seized last week by Iran said on Tuesday it was still awaiting permission to visit the ship's 23 crew members.

Bahraini Oil Minister Sheikh Mohammed bin Khalifa bin Ahmed Al Khalifa has appointed Dawood Nassif as the chairman of the board of directors of Bahrain Petroleum Company (Bapco), the Bahrain News Agency (BNA) said on Tuesday.

Bahrain's National Oil and Gas Holding Company (NOGA Holding) signed a memorandum of understanding (MOU) with Baker Hughes Company on cooperation in the oil and gas sector in the kingdom, it said in a statement on Wednesday.

U.S. Secretary of State Mike Pompeo held discussions on Monday with Saudi Arabia's King Salman and Crown Prince Mohammed bin Salman on ensuring stability in energy markets and freedom of navigation, Saudi Arabia's ambassador designate to Washington said.

Acting U.S. Defense Secretary Patrick Shanahan announced on Monday the deployment of about 1,000 more troops to the Middle East for what he said were defensive purposes, citing concerns about a threat from Iran.

Saudi Arabia and the UAE on Saturday called for decisive action to protect energy supplies amid a tense US-Iran standoff as two tankers attacked in a vital Gulf shipping channel headed to port.

Frontline's oil tanker Front Altair said that the vessel attacked in Oman gulf on Thursday remains afloat and is being aided by a salvage vessel.

The Kokuka Courageous, one of two tankers attacked with explosives on Thursday in the Gulf of Oman, is now safely under tow and heading towards the United Arab Emirates' port of Kalba, south of Fujairah, the ship's operator said on Friday.

The attack on two oil tankers in the Gulf raised tension in the region.