Oil Prices Fall on Report of Saudi Quickly Restoring Output

After a Reuters report quoting a Saudi official, oil prices plummeted, predicting that the kingdom could be fully restored to oil production within two to three weeks.

Earlier reports suggested that it would take much longer to restore production to normal as rocket attacks over the weekend took about 5.77 million barrels per day of off-line production.

WTI futures at $ 59.62 a barrel versus $ 62.02 immediately before the report.
Brent futures futures at $ 65.64 a barrel versus $ 67.77 a barrel.
Energy Minister Prince Abdulaziz bin Salman will hold a press conference at 1:15 PM ET./Investing.com

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