Oil weakens as rapid Saudi output recovery seen

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Relief is set to sweep across financial markets after Saudi energy minister pulled down the threat of an escalation in geopolitical tensions in the region, and by stating the Oil production output will be fully back online by the end of September.
 
In the past two days, the kingdom has resumed more than half of its oil output despite the major disruption over the weekend.

With oil production capacity being restored, concerns over a supply shock that encouraged an astonishing 20% move higher in oil at the beginning of the week will dilute. This will ultimately push oil prices… Read More:

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