JEDDAH, Saudi Arabia - Saudi Arabia will restore its lost oil production by the end of September and has managed to recover supplies to customers to the levels they were at prior to weekend attacks on its facilities by drawing from its huge oil inventories.
He said the kingdom would achieve 11 million bpd capacity by end of September and 12 million bpd by end of November. Aramco’s Chief Executive Amin Nasser said the company, which is preparing for an initial public offering , was still in the process of estimating repair work but that it was “not that significant,” given the company’s size.
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