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UPDATED: Saudi Oil Output to Return to Normal by End of the Month Post-Attack

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   |    Tuesday,September 17,2019

Oil prices spiked on Monday after an attack on a Saudi Arabian oilfield disrupted ~5.7 million barrels per day of production, according to multiple reports.

As of September 17, 2019, the Saudi Oil Minister Prince Abdulaziz bin Salman noted that its output will return to normal by the end of the month.

The country's oil production capabilities are currently "fully restored."

At the start of the week (September 15-16), WTI prices surpassed the $60/barrel mark while Brent crude hit over $66/barrel.

The attack resulted in the largest disruption of oil production in recent history, surpassing the Iranian Revolution (which disrupted ~5.6 MMBbls/d). 

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