Saudi Arabia to recover its crude production at the end of the month
Recently the Minister of Energy of Saudi Arabia reported that the damage caused by the attack has been controlled. The price of a barrel of oil rose 14% as a result of reports that crude production was reduced by 50%.
Prince Abdulaziz Bin Salmán, reported that the damage was contained "The supply has already returned to normal and Aramco (name of the oil facilities) will continue to pull inventories to deal with exports."
The information came after the markets were hit by the reduction of 5.7 million barrels per day of crude. This represents 6% of world production, especially that which is exported to the country. "In the last two days, half of the lost production has been recovered and will reach 11 million barrels per day by September 30," said Prince Abdulaziz Bin Salmán.
The prince had only been in office for a week when the attacks were committed and the main culprit or accused of the event is Iran. Faced with a possible dialogue between Iran and the United States, in the last hours it was known that “Iranian officials at any level will never engage in dialogue with American officials in New York or anywhere else. If we give in to their pressure and have conversations with them, it will show that their maximum pressure has worked… their policy is going to fail”.
Now, it is only expected that the countries involved in this conflict will take the respective actions to protect their interests without there being a new war in the Persian Gulf. Iran did not loosen under pressure, as a possible attack ordered by Trump was known a few days ago, which was canceled at the last minute.