Oil is a sacred cow not to be touched.
Silent Weapons for Rapidest Oil Wars
How can Keeping oil prices high ?
For what reason(s) overnight the oil world and the strategy scene changed ?
How Oil can finds a new King ?
With evolving and increasingly sophisticated econometric tools to describe and ‘map’ the total economy and its energy requirements well into the future, and having engineered the transformation of the economy of the world from coal-driven rail to oil-driven transport, the Standard Oil group, their allies at OPEC, became increasingly concerned that their carefully constructed edifice of world oil domination might collapse if too much oil were to suddenly flood the market.
Saudi Arabia has already begun four periods of price war.
The last price war has been the most severe ever, considering the price drop measure.
Yellow: WTI Current price war based on price
Saudi Aramco to boost crude oil production from April 1
In the recently escalated tussle over crude oil prices between the Saudi Arabia and Russia, the former has alleged to flood the market with crude oil supplies and lower its prices, when its three year OPEC deal with Russia is due to expire.
In a latest statement, amidst an unprecedented instability in the global energy markets, Saudi Aramco has stated to facilitate its customers with 12.3 million bpd of crude oil from the current 9.7 million bpd in the month of April. The output is an additional increase of 300,000 bpd over the syndicate’s maximum output capacity of 12 million bpd. The said volumes will be provided starting April 1, 2020.
The energy market earlier this week witnessed an instability and triggered a sharp drop in crude oil prices, when the OPEC failed to reach an agreement for the oil production curbs with its allied producers at the Vienna last weekend.
A few other OPEC producers like Nigeria and Iraq have also stated their plans to raise their oil output.
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