saudi arabic is currently studying the things, but from wat i saw in news, expected to resume part of production in few days time, but need few months time if wan to back to normal like previously.. so, i guess the brent oil price will be at higher side for at lease few weeks
Oil prices dropped more than 6% in a sudden move on Tuesday after report said Saudi Arabia’s oil production will be restored to normal levels faster than initially expected.
Brent crude futures, the international benchmark, fell $4.41 or 6.39%, to $64.61. The contract soared as much as 19.5% on Monday to $71.95 per barrel, the biggest jump in history.
U.S. West Texas Intermediate futures slipped $3.8, or 6.04%, to $59.1 per barrel after posting their biggest climb since 2008 in the previous session.
The kingdom’s oil output will be fully back online in the next two to three weeks, Reuters reported, citing top Saudi sources briefed on the oil operations.
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noinoi
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Posted by noinoi > 2019-09-15 14:35 | Report Abuse
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