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'Half of lost oil to be offline for a month'
Updated On: 18 September, 2019 07:36 AM IST | | Agencies
Says S&P Platts in its report, adding that any delays will lead to further price increases in the weeks/months ahead
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Saudi investors monitor stocks in Riyadh. Representation pic/AFP
Dubai: Around three million barrels per day of Saudi oil will remain offline for a month, about half the production halted by the weekend's devastating attacks on key crude facilities, S&P Global Platts said in a report on Tuesday. The report came as oil prices dipped slightly following record gains on Monday as uncertainty prevailed on global markets over when the OPEC kingpin will be able to restore lost production.
Strikes on Abqaiq and the Khurais oilfield have knocked out 5.7 million barrels per day (bpd), or six percent of global production. "At this point, it looks likely that around 3.0 million bpd of Saudi Arabian crude supply will be offline for at least a month," S&P said.
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