Saudi Arabia says oil output to be restored by end of September after attacks on two facilities slash production by half
5 years, 3 months ago

Saudi Arabia says oil output to be restored by end of September after attacks on two facilities slash production by half

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Saudi Arabia said Tuesday its oil output will return to normal by the end of September, seeking to soothe rattled energy markets after attacks on two instillations that slashed its production by half Jeddah: Saudi Arabia said Tuesday its oil output will return to normal by the end of September, seeking to soothe rattled energy markets after attacks on two instillations that slashed its production by half. The weekend strikes on Abqaiq — the world’s largest oil processing facility — and the Khurais oil field in eastern Saudi Arabia roiled energy markets and revived fears of a conflict in the tinderbox Gulf region. “Production will be back to normal by the end of September.” Prince Abdulaziz said the kingdom would achieve 11 million barrels per day capacity by the end of September and 12 million bpd by the end of November. Saudi Arabia’s energy infrastructure has been hit before, but Saturday’s attack was of a different scale, abruptly halting half the OPEC kingpin’s output — some six percent of the world’s oil supply.

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