It could take five years for Saudi Arabian oil production to return to levels from two years ago and that leaves overall GDP constrained, Moody’s said. Saudi Arabia is the largest oil producer in the Organization of Petroleum Exporting Countries and the de facto leader of an effort to drain a surplus from the five-year average in global crude oil inventories. That surplus helped push the price of oil below $30 per barrel two years ago and the OPEC-led effort, coupled with heightened geopolitical tensions, has left oil trading in the $70 per barrel range for most of the year. OPEC cuts are in their second year. Moody’s Investors Service said in a report emailed to […]