Report: Saudi Aramco Shuts Down Two Supergiant Offshore Oil Fields
Saudi Arabia has joined Kuwait and Iraq in beginning the process of drawing down oil production, a response to the closure of the Strait of Hormuz and a shortage of storage options. The Wall Street Journal has confirmed that Saudi Aramco has shut down the Safaniya and Zuluf fields, taking two million barrels per day of production offline. Safaniya is the world's largest offshore oil field, containing more than 30 billion barrels of oil in proven reserves, and Saudi Aramco...
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