Saudi oil production

Looks like net demand is slowly using up Saudi excess capacity.
But there’s a long way to go.

No telling when they might alter prices- it’s a political decision on their part.

This entry was posted in Oil and tagged , . Bookmark the permalink.

4 Responses to Saudi oil production

  1. Tom Hickey says:

    Report is that the Saudis announced that $100 is their equilibrium estimate for a global recovery. So look for the price to rise to at least that when (if) things are good again.

    Reply

    strawberry picker Reply:

    Tom this weekend on Puplava’s show some energy analysts were talking about how brazil has the latest oil extraction technology and infrastructure and the middle east has lots of rusty worn out old oil infrastructure. What are the facts? I find it hard to believe the Saudi’s are sitting on a rusting infrastructure that is decaying as the analysts seem to imply.

    Reply

    Tom Hickey Reply:

    Makes sense to me. The SAudis have been in production for a long time and Brazil is just coming online. Why shouldn’t Brazil have the latest equipment, and the Saudis not be left with mostly old? That’s how the US fell behind Japan in heavy industry like steel production.

    Reply

    beowulf Reply:

    Brazil no doubt spends more on infrastructure for the “latest oil extraction technology” because their oil is offshore in deep water. The Saudis don’t need the latest equipment, they’re already the lowest cost oil producer.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>