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Saudi Arabia has halved oil production

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Saudi Arabia has halved oil production
September 17
13:00 2019

According to Bloomberg, Saudi Arabia was forced to halve the production of the “black gold”. We recall that this happened after the attack on the oil facilities of Saudi Arabia. Saudi Aramco has cut the production by about 5 million barrels per day.

Yemeni rebels took responsibility for the attack.

The attack was carried out on September 14. As a result, refineries and a large field were damaged. Explosions and a fire damaged the infrastructure, which could subsequently disrupt the schedule of fuel supplies from the region.

Abqaiq is a transit point from where oil is sent to various terminals for export.

Bloomberg’s insiders at Saudi Aramco report that the company is counting on a quick recovery of the affected facilities.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

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