Saudi Arabia Archive

Saudis to pump 10 million bpd

The Saudis don’t sell in the spot markets, they only post prices to refiners and then take orders at those prices. That is, they post price and let quantity vary. So the only way they could definitively get to 10 million bpd would be to change policy and sell in the spot ...Read More

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. ...Read More

OPEC June Crude Output Down 157,000 Bbl/Day to 29.23 Mln

With the saudis setting price and letting quantity adjust looks like net demand isn’t going anywhere Europe got by the ‘rollover event’ without drama. German unemployment down a tad and muddling through. Euro solvency issues (slowly) fading with ECB in control? OPEC June Crude Output Down 157,000 Bbl/Day to 29.23 Mln ...Read More

Saudi price cuts

[Skip to the end] This should keep a lid on crude prices, as Saudis decide to set lower prices: Saudi Arabia cuts oil prices for US, Europe for May by Timothy Coulter and Diana ben-Aaron Apr 6 (Tehran Times) — Saudi Aramco, the world’s largest state-owned oil company, cut its official selling ...Read More

Saudi production, September

[Skip to the end] Saudi Oil Production [top] ...Read More

MoneyBlog: Saudis cut production?

[Skip to the end] The Saudis will ‘meet demand’ but at their price. So the question remains as to what their price is. With their production (to meet demand) nearing their max capacity, seems they want higher prices to try to cool demand so as not to lose control of price on ...Read More

Bloomberg: Saudi Arabia not willing to see crude at discount

[Skip to the end] Saudi Arabia Not Willing to See Crude at Discount, Naimi Says by Fred Pals (Bloomberg) Saudi Arabia, the world’s largest oil exporter, is not willing to sell crude oil at a discount to the normal market price for its grades of oil, the kingdom’s oil minister said. The ...Read More

Saudi Iran OIL Update

[Skip to the end] Saudis say they will pump more if markets want more. They post prices to their refiners and then fill all orders at their posted prices. Their posted prices and spreads have also been moving in their favor lately. Can it be more clear that the Saudis are ‘price ...Read More