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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    What is Saudi Arabia hiding for the oil market?

    Rocky
    Rocky
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    Posts : 267081
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    What is Saudi Arabia hiding for the oil market? Empty What is Saudi Arabia hiding for the oil market?

    Post by Rocky Sat 09 Jun 2018, 9:01 am

    [ltr]What is Saudi Arabia hiding for the oil market?[/ltr]
    [ltr]Economie[/ltr]
     Since 2018-06-09 at 14:13 (Baghdad time)
    [ltr]What is Saudi Arabia hiding for the oil market? ASDawdeW[/ltr]
    [ltr]Follow-up of Mawazine News[/ltr]
    [ltr]The Wall Street Journal has revealed a change in Saudi Arabia's strategy in the oil market. The kingdom has recently started increasing its oil production after more than a year and a half of cutting its price support.[/ltr]
    [ltr]"Saudi Arabia increased its oil production in May by more than 100,000 barrels of oil a day, so the production of the world's largest oil exporter touched the level of 10 million barrels per day," the paper said in a report published by a source.[/ltr]
    [ltr]The source added that "Saudi Arabia continues this approach and intends to increase production this month by at least 100 thousand barrels, adding that this step will contribute to reassure the global oil market from fears of disruption of Iranian oil supplies because of US sanctions."[/ltr]
    [ltr]This increase is not significant compared to the kingdom's capabilities, but this indicates a radical shift in Saudi Arabia's oil market policy, which in cooperation with Russia led an alliance of major oil producers.[/ltr]
    [ltr]The newspaper also cited data from Kpler Consulting, which pointed out that Saudi Arabia's crude exports rose last month by 300,000 barrels per day, and the increase in exports does not necessarily reflect an increase in production.[/ltr]
    [ltr]However, the Reuters news agency reported earlier this week that Washington had asked Riyadh to increase production if oil prices in the markets rose significantly as a result of the resumption of sanctions America against Tehran[/ltr]




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