Brent steady below $65 as market awaits Saudi recovery

- Oil market awaits Saudi Arabia's return of complete oil supply to customers through stock drawdowns

The price of Brent crude was steady at just below $65 per barrel on Friday as the global oil market awaits Saudi Arabia's rapid oil output recovery.

The international benchmark was trading at $64.80 per barrel at 0617 GMT, a slight drop from the previous close at $64.84 a barrel.

American benchmark West Texas Intermediate was at $58.67 a barrel at the same time for a 0.3% loss after ending Thursday at $58.84 per barrel.

Saudi Energy Minister Prince Abdulaziz bin Salman said Tuesday that his country would be able to meet full supplies this month through a drawdown of strategic stocks.

The national oil company Saudi Aramco's oil production will reach 11 million barrels per day (mbpd) by the end of September and continue to rise to 12 mbpd by the end of November, he added.

After the drone attacks on two major Saudi Aramco facilities, the kingdom's output fell by 5.7 mbpd -- more than half of its total 9.8 mbpd output.

By Ovunc Kutlu

Anadolu Agency

energy@aa.com.tr