Days, Weeks, Months? Oil Plunges As ‘Sources’ Say Saudis ‘Close’ To Restoring 70% Of Production
The manic headline hockey around the restoration of Saudi oil production continued apace on Tuesday, with reports indicating output could be fully restored within "two to three weeks". That's according to two unidentified sources who spoke to Reuters.
One of the people said the kingdom is "close to restoring 70%" of the 5.7 million barrels per day of capacity lost over the weekend in the attacks on Abqaiq and Khurais. The outage left traders staring at the biggest supply disruption in the histo
As my mother would say, this whole thing stinks to high heaven.
The people with former Dresser Industries engineers actually there talking into Iridium handsets have had a distinct advantage all along. Bloomberg has, in general, dropped the ball here with extensive filtering of opinions, and highly opinionated technologically illiterate correspondents.