Saudi Arabia has promised OPEC to restore Saudi Aramco's oil reserves that slumped in the wake of a drone attack on the company's facilities that temporarily halved daily oil output, Iraq's Oil Ministry's Spokesman Asim Jihad told Sputnik on Monday
BAGHDAD (Pakistan Point News / Sputnik - 16th September, 2019) Saudi Arabia has promised OPEC to restore Saudi Aramco's oil reserves that slumped in the wake of a drone attack on the company's facilities that temporarily halved daily oil output, Iraq's Oil Ministry's Spokesman Asim Jihad told Sputnik on Monday.In the early hours of Saturday, two Saudi Aramco plants, in Abqaiq and Khurais, were attacked, leading to fires and production suspension of 5.7 million barrels of crude oil per day, which is about half of Saudi Arabia's total daily production.
"Saudi Arabia has said it will compensate for the Aramco's oil reserves," Asim Jihad said.
He added that any decision to increase oil production or oil production compensation must be approved by the Organization of the Petroleum Exporting Countries (OPEC).
After the attack there has been a growing concern about a drop in oil supplies resulting in rising prices.
