At The Oil Drum, Rembrandt

Donal — Thu, 09 Jun 2011 12:04:14 +0000

In reply to OPEC rejects increase in oil supply

At The Oil Drum, Rembrandt Koppelaar called it:

If Saudi Arabia raises its production by only 500,000 barrels a day, it is not clear where the remainder of the 1.5 million barrels would come from, because other OPEC countries seem to have little spare capacity. According to recent IEA estimates, spare capacity outside of Saudi Arabia amounts to only a small portion of the total, shown in figure 1.

And the Kingdom's spare capacity is probably that heavy, sour crude that they have trouble selling. So far.

dagblog - Comments for "OPEC rejects increase in oil supply "

At The Oil Drum, Rembrandt