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Aramco to Face Weeks Without the Majority of Abqaiq’s Oil Output

  • Majority of Abqaiq output to be offline for weeks or months
  • Attack cut Saudi output 50%; kingdom restarting idled fields
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Oil Analyst Sen: Saudi Strike Puts Geopolitical Risk Back in Market
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Saudi Aramco could take months to restore output at its giant Abqaib plant, keeping up pressure on oil prices as the geopolitical consequences of the worst single attack on global supplies continued to reverberate.

Brent crude traded just under $69 a barrel after jumping the most on record on Monday. President Donald Trump said “we pretty much already know” who was responsible, signaling Iran was to blame for the attack. Saudi Arabia has said Iranian weapons were used.