According to a report by Reuters, Saudi Aramco has made the necessary repairs at Safaniyah offshore oilfield, allowing it to resume production at the world’s largest offshore oilfield, which has a capacity of more than 1mn barrels per day.
Production was partially halted more than two weeks ago when a vessel’s anchor tore a main power cable, which Reuters says was minor, citing two anonymous trade sources.Â
The partial shutdown added to the Organisation of the Petroleum Countries’ (OPEC) planned production cuts, which have helped spur prices to just over $67 per barrel of Brent crude, as of writing.
