Saudi says oil output to be restored by end of September

Iran Suspected of Drone Strike On Saudi Oil Facility

Saudi says oil output to be restored by end of September

Saturday's incident resulted in a five per cent cut in daily global oil production as over 5 million barrels of oil were destroyed. If any attack had come from Yemen, the southern sides the structures would have been damaged, USA officials say.

The Abqaiq facility processes crude oil from the major Saudi oil fields Ghawar, Shaybah, and Khurais.

Secretary of State Mike Pompeo was travelling to Saudi Arabia on Tuesday, Pence said, adding that if Iran conducted Saturday's attacks to pressure President Donald Trump to back off his sanctions regime against Tehran, they will fail.

Tehran rejects the charges it was behind the strikes and on Tuesday ruled out talks with Trump.

"But Saudi officials said the USA didn't provide enough to conclude that the attack was launched from Iran, indicating the U.S. information wasn't definitive", the WSJ added.

President Trump called off a retaliatory United States missile attack on Iran in June after the Iranians shot down a spy drone. As part of a "maximum pressure" campaign initiated after its withdrawal from the agreement, the United States seems to be directing blame to Iran for the attacks on the oil facilities, even though there has yet been no evidence provided that anyone other than the Houthis, who have claimed responsibility, are behind them.

"Currently we don't see any sign from the Americans which has honesty in it, and if the current state continues there will be absolutely no chance of a meeting between the two presidents", spokesman Ali Rabiei said.

Last month, Trump called off a military attack on Iran, at the last minute, after Tehran downed an unmanned U.S. military drone.

"I'm not looking at options right now".

"When both sides don't want to play ball there's only so much we can do", said a second French diplomat. Britain and Germany agreed they needed to work with worldwide partners to form a collective response and de-escalate tensions as efforts continued to establish exactly what happened, Prime Minister Boris Johnson's spokesman said.

Therefore, the Saudi weapons were "useless against the missiles and drones coming in from the north", CBS reports.

The United States believes the attacks originated in southwestern Iran, a USA official told Reuters.

United States analysts suspect that Iran was behind the attacks, dismissing a claim from Iranian-backed Houthi rebels in Yemen that they had launched the precision drone and missile attack.

The attacks significantly disrupted Saudi oil production, triggering a global oil supply slump of more than 5%. The cabinet urged the world to confront those threats "regardless of their origin".

Former Shell Oil President John Hofmeister discusses his outlook for oil prices after the oil explosion in Saudi Arabia. It was the worst such attack on regional oil facilities since Saddam Hussein torched Kuwait's oil wells during the 1990-91 Gulf war.

Dollar-denominated bonds issued by the Saudi government and Aramco rebounded on Tuesday, in a sign investors' concern may be abating.

He also said the United States doesn't want war but was ready to help the country's key ally in the Gulf region counter the attack once a "definitive" determination is made on who was responsible.

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