19-April-2024
Corporate News
 
Aramco less optimistic on output recovery
17-Sep-2019

Saudi Aramco officials are growing less optimistic about a rapid recovery in oil production after an attack on the giant Abqaiq processing plant on Saturday, a person with knowledge of the matter said. All eyes are on how fast the kingdom can recover from the weekend’s devastating strike, which knocked out roughly 5 per cent of global supply and triggered a record surge in oil prices. Initially, it was said that significant volumes of crude could begin to flow again within days but it may now take longer than previously thought to resume operations at the plant, the person said, asking not be named before an official announcement.

News Source:- https://economictimes.indiatimes.com/markets/stocks/news/aramco-less-optimistic-on-output-recovery/articleshow/71160301.cms?from=mdr