Update, Tuesday, Sept. 17, 2019, at 11:05 a.m.
According to Reuters unnamed Saudi Arabian officials now expect Saudi Arabia's oil output to be fully restored within three weeks. As of Tuesday, Saudi Arabia has restored about 70 percent of the production lost in the attacks, according to Reuters.
Posted Monday, Sept. 16, 2019
Higher airfares could be on the horizon as oil prices spike following the weekend attack on a Saudi Arabian oil facility, according to a research note from Cowen. Oil prices rose 10 percent after the attack, and it will take weeks or even months to get the facility back to full capacity. "If the recent spike in oil prices were to be sustained or if oil continued to move higher from here, the airlines will look to aggressively raise fares," according to the research note. Higher fares usually lag two to six months behind a fuel price increase. If airlines are unable to increase fares, they likely will cut capacity by decreasing frequencies or cutting underperforming routes, according to Cowen.