Saudi FinMin: Aramco's announcement on restoring production proves it can swiftly deal with any crisis

Saudi Arabian Finance Minister Mohammed al-Jadaan was on the wires last minutes, via Reuters, responding to the Saudi Oil Minister Prince Abdulaziz’s statement that Saudi Arabia will restore its lost oil production by the end of September.

Jadaan said: "I congratulate Aramco on its announcement (of restoring production) yesterday, which proves its ability to deal quickly with crises."

He added that Saudi’s budget deficit was 5.7 bln riyals in H1.

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Both crude benchmarks are seen accelerating their recovery, with WTI extending above the 59 handle while Brent re-takes 65.00.