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Attack on Saudi Arabia leaves world without spare oil capacity

Updated : September 16, 2019 10:23 AM IST

The attack on Saudi oil facilities on Saturday not only knocked out over half of the country's production, but it also removed almost all the spare capacity available to compensate for any major disruption in oil supplies worldwide.
Non-OPEC members such as Russia are pumping near capacity, with perhaps only 100,000-150,000 bpd of available additional production.
Attack on Saudi Arabia leaves world without spare oil capacity
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