Saudi Arabia will restore its oil production to levels slightly above the output just before the attacks on its oil facilities in mid-September, Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday. Last month, Saudi Arabia sustained an unprecedented attack on its oil infrastructure, which knocked 5.7 million bpd—or 5 percent of global oil supply—offline. The Saudis were quick to assure the market that production would quickly return online, and that not a single oil shipment to customers would be skipped. Last week, Saudi Aramco’s chief executive Amin Nasser said that the largest oil-producing company in the world would have its oil production capacity fully restored by the end of November. The Saudi assurances and the persistent fear in the oil market about faltering demand growth this year have prevented oil prices from spiking for more than a day after the attack. One month after the attacks, the […]