Saudi Arabia Intends to Restore Third of Lost Oil Production by Monday - Reports
MOSCOW (Sputnik) - Saudi Arabia intends to restore third of oil production lost due to drone attacks on its refining facilities by Monday, the Wall Street Journal reported on Sunday, citing Saudi officials.
"We should be able to have 2 million barrels a day back online…by tomorrow," one person with knowledge of the matter told the newspaper.
He noted that the situation was worse than initial assessments right after the attack. However, he added that "we are making sure that the market won't experience any shortages until we're fully back online."
In the early hours of Saturday, two Saudi Aramco refineries, in Abqaiq and Khurais, were attacked by drones. As a result, production of 5.7 million barrels of oil per day was suspended.
The Saturday drone attack caused massive fires at two Saudi Aramco's oil facilities overnight into Saturday. The fires, in particular, hit the Abqaiq oil refinery in Eastern Province, and an oil-processing facility near Khurais oil field, located about 100 miles east of Riyadh. The Yemeni Houthi rebel movement claimed responsibility for the attacks, while US State Secretary Mike Pompeo accused Iran of being behind them. Tehran has refuted US allegations.
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