NEW YORK - Oil prices tumbled about 6 per cent on Tuesday after Saudi Arabia's energy minister said the country has managed to restore oil supplies to where they stood before weekend attacks on its facilities shut 5 per cent of global oil output.
During a news conference on Tuesday, Saudi Energy Minister Prince Abdulaziz bin Salman said the kingdom has recovered supplies by tapping inventories, and lost oil output of 5.7 million barrels per day by the end of September. State-owned producer Saudi Aramco told some Asian refiners it would meet its oil commitments, albeit with changes, sources said. The attacks on crude-processing facilities at Abqaiq and Khurais resulted in the largest single supply disruption in half a century, and threw into question Saudi Arabia's status as supplier of last resort.
US Vice-President Mike Pence said the United States was reviewing evidence that suggests Iran was behind the attacks.
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