Saudis are Willing to Meet All Orders From Ex-Iran Oil Buyers

I'm shocked.   SHOCKED I tell you!

Nobody saw this surprise news coming at all ...

Saudis Said Willing to Meet All Orders From Ex-Iran Oil Buyers

Saudi Arabia plans to meet all requests for oil purchases it has received for June, notably from countries that had to stop buying Iranian crude because of recent U.S. sanctions.

The world’s biggest oil exporter has received moderate requests from customers for shipments next month, including from former buyers of Iran’s oil, according to a Persian Gulf person familiar with Saudi plans, who asked not to be identified because the matter is confidential.  ...

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Just now, Tom Kirkman said:

I'm shocked.   SHOCKED I tell you!

Nobody saw this surprise news coming at all ...

Saudis Said Willing to Meet All Orders From Ex-Iran Oil Buyers

Saudi Arabia plans to meet all requests for oil purchases it has received for June, notably from countries that had to stop buying Iranian crude because of recent U.S. sanctions.

The world’s biggest oil exporter has received moderate requests from customers for shipments next month, including from former buyers of Iran’s oil, according to a Persian Gulf person familiar with Saudi plans, who asked not to be identified because the matter is confidential.  ...

LOL So shocked, I am about to open a bottle of 🍾  :D:o🤑

have had this discussion elsewhere on this forum under a different topic. Saudi's and other OPEC and non OPEC

will jump in and want to help the buyers awaiting replacement of Iranian barrels that are about to get shut off from the world supply.

They will up the monthly volumes under contract with existing buyers and will supply more barrels to others as needed without straining and  stressing their production capacities and infrastructure. We had the discussion about how much their spare capacity could be. It was stated by Mr. Edwards I believe to be about 20% and I had mentioned that add another 15-20% to that plus their special strategic reserves holds enough to supply additional barrels without going to the storage.

They have a tolerance clause in contracts for emergency requirements and a standard volume tolerance clause that would permit them 5% more if needed per buyer or a %age more based on the unique conditions brought forth by emergencies, if they are able to do so they will, prices may be higher for the additional barrels. But then again all such contracts a confidential and based on individual buyers and the KSA.

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I cannot believe my eyes. Is this really true? It cannot be! I am sure the good people in Riyadh did not expect anyone to experience any shortage because of the loss of barrels from the bad people in Tehran. I just know I'm correct. And still... Shocking, indeed.

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6 minutes ago, Marina Schwarz said:

I cannot believe my eyes. Is this really true? It cannot be! I am sure the good people in Riyadh did not expect anyone to experience any shortage because of the loss of barrels from the bad people in Tehran. I just know I'm correct. And still... Shocking, indeed.

I had said that before, no shocker here. I had said Saudi's will step up to the plate to prove

1) Their reliability as a major world supplier

2) Their sustainability as a swing producer in times of emergencies

3) To regain some lost market share

4) " TO PUMP UP THE VOLUME" (pun intended) ;) and to increase their revenue to pay for a host of things and keep their internal problems suppressed

5) To show good will to the world

6) Cooperate with EU and US and earn more goodwill

7) To retain buyers (more) and secure the exports of more barrels to these buyers and gain their loyalty as well.

 

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If anyone sees this as a goodwill gesture, let alone a surprise, then this anyone is so blind, it hurts. Yes, I know there are millions that will see it this way. I mean, the Riyadh-Tehran hate is not something secret. It's public knowledge each would be more than happy to screw up the other and now Riyadh has the perfect chance to do it. Goodwill? Please.

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I'm stunned one or more nations would take advantage of another's demise even though they're in the same "Gentleman's Club" (OPEC). These things only happen in movies!

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(edited)

There is often a big difference between what a nation says and what a nation does.

April output from Saudi Arabia was 9.82 Mb/d in April, we will have to wait and see what Saudi output is in May and future months.

The Saudis could also choose to limit output increases so that oil prices continue to rise, their net revenue could be higher with that choice depending on demand at that higher price level.  That might be the smarter choice.

They could simply say they are supplying all the oil that is needed.

The article says they will keep output to 10.311 Mb/d or less until the end of June.  So potentially they could raise output about 500 kb/d and remain within their OPEC quota.

Edited by D Coyne
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9 hours ago, Marina Schwarz said:

If anyone sees this as a goodwill gesture, let alone a surprise, then this anyone is so blind, it hurts. Yes, I know there are millions that will see it this way. I mean, the Riyadh-Tehran hate is not something secret. It's public knowledge each would be more than happy to screw up the other and now Riyadh has the perfect chance to do it. Goodwill? Please.

Goodwill not with Iran, they would love to  see Iran suffer and be miserable.... but yes goodwill with oil buyers and good will with global trade and trying to keep prices in a somewhat "stable" pattern not skyrocketing.

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1 hour ago, D Coyne said:

There is often a big difference between what a nation says and what a nation does.

April output from Saudi Arabia was 9.82 Mb/d in April, we will have to wait and see what Saudi output is in May and future months.

The Saudis could also choose to limit output increases so that oil prices continue to rise, their net revenue could be higher with that choice depending on demand at that higher price level.  That might be the smarter choice.

They could simply say they are supplying all the oil that is needed.

The article says they will keep output to 10.311 Mb/d or less until the end of June.  So potentially they could raise output about 500 kb/d and remain within their OPEC quota.

We had discussed the KSA's capabilities from the 60s and 70s into the 80s in terms of their spare capacity.

They have an additional on top of that since the 80s into the 90s and 2000s, they never sat still on expanding their spare capacity or production capabilities and storage capabilities.

__________Just like this bit of info_____________________________________

 

Saudi Arabia has significantly reduced the amount of crude oil used for power generation

Power plants in Saudi Arabia burned an average 0.4 million barrels per day (b/d) of crude oil in 2018 directly for power generation, the lowest amount since at least 2009, the earliest year that data are available from the Joint Organizations Data Initiative (JODI, Figure 1). According to the JODI data, compared with all other countries, Saudi Arabia burns by far the largest amount of crude oil directly for power generation. Between 2015 and 2017, Iraq used the second-largest amount of crude oil for power generation (over 150,000 b/d on average), but has significantly reduced its direct crude burn since then.

Figure 1. Saudi Arabia direct use of crude oil for power generation (2014 - 2018)

During the summer months, Saudi Arabia typically experiences an increase in electricity consumption as domestic demand for air conditioning rises. Saudi Arabia relies on crude oil and other fossil fuels, such as petroleum products and natural gas, for power generation. Saudi Arabia's direct crude burn reached a record high during the summer of 2015, averaging 0.9 million b/d from June to August. In comparison, direct crude burn in the summer of 2018 was 41% lower at 0.5 million b/d.

Despite continued, steady increases in both population and electricity consumption, Saudi Arabia managed to reduce its reliance on crude oil for power generation by increasing the use of other energy sources, such as natural gas and fuel oil. Most of the natural gas that Saudi Arabia produces is associated gas, which is natural gas produced along with crude oil from an oil well. In recent years, however, nonassociated natural gas production has increased. The Wasit gas plant reached its full operating capacity of 2.5 billion cubic feet per day (Bcf/d) in 2016. The plant was built to process nonassociated gas, which it is currently processing from the Hasbah and Arabiyah offshore gas fields, both of which began production in 2016. Saudi Arabia is investing in more natural gas processing capacity, including the construction of the Fadhili gas plant, which will be able to process nonassociated natural gas from both on- and offshore fields. The Fadhili gas plant is expected to be completed by the end of 2019 with a capacity of 2.5 Bcf/d. Consumption of natural gas in Saudi Arabia has steadily increased, averaging 10.6 Bcf/d in 2017, the latest year for which data are available (Figure 2).

Figure 2. Saudi Arabi natural gas and fuel oil consumption

In addition to natural gas, Saudi Arabia has also been using fuel oil as a partial replacement of crude oil in power generation. High-sulfur fuel oil is a relatively cheap petroleum product that can be used to fuel marine vessels and can also be used for power generation. However, because of environmental concerns and competition with other fuels, fuel oil consumption has been generally declining in most regions in the world. In Saudi Arabia, however, fuel oil consumption rose 25% between 2015 and 2018 to 0.5 million b/d on average, according to JODI data. Some trade press reports indicate that one potential side effect of the upcoming changes to the sulfur limits in marine fuels in 2020 is that the stranded high-sulfur fuel oil could be sent to Saudi Arabia to further replace crude oil in power generation.

With less crude oil directly being used for power generation, more crude oil is available for domestic refining and exports. For many years, Saudi Arabia has been working to increase its domestic refinery capacity. Saudi Arabia is able to process 2.9 million b/d of crude oil domestically, which will rise further after the startup of the 400,000-b/d Jazan refinery, which may come online in 2019. Because of its refinery additions, Saudi Arabia has been able to process more of its crude oil domestically. Crude oil refinery runs averaged roughly 1.8 million b/d in 2009 and subsequently rose to an average of 2.6 million b/d by 2018, according to JODI data (Figure 3).

Figure 3. Saudi Arabi crude oil refinery intake and petroleum product exports

As a result of increased refinery runs, Saudi Arabia was also able to increase the amount of petroleum products it could export. Exports of petroleum products more than quadrupled between 2009 and 2018, from 0.4 million b/d to 2.0 million b/d. Saudi Arabia exports more diesel than any other petroleum product, averaging 0.8 million b/d in 2018. Gasoline and fuel oil were the next two most exported petroleum products in 2018 at 0.4 million b/d and 0.3 million b/d, respectively. Saudi Arabia also imports petroleum products; however, over the past several years, Saudi Arabia has generally become a net exporter of most products, according to JODI data.

In addition to refining more crude oil domestically, using less crude oil in power generation can enable Saudi Arabia to increase crude oil exports, if needed. However, in late 2016 and in late 2018, Saudi Arabia, along with other members of the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC countries, agreed to voluntarily cut crude oil production in order to prevent further declines in crude oil prices. These agreements resulted in lower production of crude oil in Saudi Arabia, which is a more significant factor in how much crude oil the country has available to export throughout the year (Figure 4).

Figure 4. Saudi Arabi crude oil production and exports

Furthermore, Saudi Arabia has been cutting production beyond its agreed-upon target, meaning that as Saudi Arabia's crude oil production falls, production of associated natural gas will also decline. Declines in associated natural gas production could result in an increased need for crude oil used for power generation.

 

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(edited)

7 minutes ago, ceo_energemsier said:

We had discussed the KSA's capabilities from the 60s and 70s into the 80s in terms of their spare capacity.

They have an additional on top of that since the 80s into the 90s and 2000s, they never sat still on expanding their spare capacity or production capabilities and storage capabilities.

__________Just like this bit of info_____________________________________

 

Saudi Arabia has significantly reduced the amount of crude oil used for power generation

Power plants in Saudi Arabia burned an average 0.4 million barrels per day (b/d) of crude oil in 2018 directly for power generation, the lowest amount since at least 2009, the earliest year that data are available from the Joint Organizations Data Initiative (JODI, Figure 1). According to the JODI data, compared with all other countries, Saudi Arabia burns by far the largest amount of crude oil directly for power generation. Between 2015 and 2017, Iraq used the second-largest amount of crude oil for power generation (over 150,000 b/d on average), but has significantly reduced its direct crude burn since then.

Figure 1. Saudi Arabia direct use of crude oil for power generation (2014 - 2018)

During the summer months, Saudi Arabia typically experiences an increase in electricity consumption as domestic demand for air conditioning rises. Saudi Arabia relies on crude oil and other fossil fuels, such as petroleum products and natural gas, for power generation. Saudi Arabia's direct crude burn reached a record high during the summer of 2015, averaging 0.9 million b/d from June to August. In comparison, direct crude burn in the summer of 2018 was 41% lower at 0.5 million b/d.

Despite continued, steady increases in both population and electricity consumption, Saudi Arabia managed to reduce its reliance on crude oil for power generation by increasing the use of other energy sources, such as natural gas and fuel oil. Most of the natural gas that Saudi Arabia produces is associated gas, which is natural gas produced along with crude oil from an oil well. In recent years, however, nonassociated natural gas production has increased. The Wasit gas plant reached its full operating capacity of 2.5 billion cubic feet per day (Bcf/d) in 2016. The plant was built to process nonassociated gas, which it is currently processing from the Hasbah and Arabiyah offshore gas fields, both of which began production in 2016. Saudi Arabia is investing in more natural gas processing capacity, including the construction of the Fadhili gas plant, which will be able to process nonassociated natural gas from both on- and offshore fields. The Fadhili gas plant is expected to be completed by the end of 2019 with a capacity of 2.5 Bcf/d. Consumption of natural gas in Saudi Arabia has steadily increased, averaging 10.6 Bcf/d in 2017, the latest year for which data are available (Figure 2).

Figure 2. Saudi Arabi natural gas and fuel oil consumption

In addition to natural gas, Saudi Arabia has also been using fuel oil as a partial replacement of crude oil in power generation. High-sulfur fuel oil is a relatively cheap petroleum product that can be used to fuel marine vessels and can also be used for power generation. However, because of environmental concerns and competition with other fuels, fuel oil consumption has been generally declining in most regions in the world. In Saudi Arabia, however, fuel oil consumption rose 25% between 2015 and 2018 to 0.5 million b/d on average, according to JODI data. Some trade press reports indicate that one potential side effect of the upcoming changes to the sulfur limits in marine fuels in 2020 is that the stranded high-sulfur fuel oil could be sent to Saudi Arabia to further replace crude oil in power generation.

With less crude oil directly being used for power generation, more crude oil is available for domestic refining and exports. For many years, Saudi Arabia has been working to increase its domestic refinery capacity. Saudi Arabia is able to process 2.9 million b/d of crude oil domestically, which will rise further after the startup of the 400,000-b/d Jazan refinery, which may come online in 2019. Because of its refinery additions, Saudi Arabia has been able to process more of its crude oil domestically. Crude oil refinery runs averaged roughly 1.8 million b/d in 2009 and subsequently rose to an average of 2.6 million b/d by 2018, according to JODI data (Figure 3).

Figure 3. Saudi Arabi crude oil refinery intake and petroleum product exports

As a result of increased refinery runs, Saudi Arabia was also able to increase the amount of petroleum products it could export. Exports of petroleum products more than quadrupled between 2009 and 2018, from 0.4 million b/d to 2.0 million b/d. Saudi Arabia exports more diesel than any other petroleum product, averaging 0.8 million b/d in 2018. Gasoline and fuel oil were the next two most exported petroleum products in 2018 at 0.4 million b/d and 0.3 million b/d, respectively. Saudi Arabia also imports petroleum products; however, over the past several years, Saudi Arabia has generally become a net exporter of most products, according to JODI data.

In addition to refining more crude oil domestically, using less crude oil in power generation can enable Saudi Arabia to increase crude oil exports, if needed. However, in late 2016 and in late 2018, Saudi Arabia, along with other members of the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC countries, agreed to voluntarily cut crude oil production in order to prevent further declines in crude oil prices. These agreements resulted in lower production of crude oil in Saudi Arabia, which is a more significant factor in how much crude oil the country has available to export throughout the year (Figure 4).

Figure 4. Saudi Arabi crude oil production and exports

Furthermore, Saudi Arabia has been cutting production beyond its agreed-upon target, meaning that as Saudi Arabia's crude oil production falls, production of associated natural gas will also decline. Declines in associated natural gas production could result in an increased need for crude oil used for power generation.

 

I tend to go with the data I see, Saudi C+C output for any 12 month period since 1973 has never been higher than 10.46 Mb/d, when they demonstrate that they can produce more than this for any 12 month period, then I will believe it.  In the mean time I consider the Saudi capacity for sustained (12 month average) C+C output to be 10.46 Mb/d until proven otherwise.  This is based on EIA OPEC output data for C+C.

Edited by D Coyne

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10 hours ago, ceo_energemsier said:

Goodwill not with Iran, they would love to  see Iran suffer and be miserable.... but yes goodwill with oil buyers and good will with global trade and trying to keep prices in a somewhat "stable" pattern not skyrocketing.

They make more money when they sell more oil, regardless of prices. I have trouble seeing this as goodwill, especially when they make a point of repeatedly describing it as goodwill as if they'll be giving away the oil. Right.

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10 hours ago, D Coyne said:

I tend to go with the data I see, Saudi C+C output for any 12 month period since 1973 has never been higher than 10.46 Mb/d, when they demonstrate that they can produce more than this for any 12 month period, then I will believe it.  In the mean time I consider the Saudi capacity for sustained (12 month average) C+C output to be 10.46 Mb/d until proven otherwise.  This is based on EIA OPEC output data for C+C.

Their data is not very transparent, but if you also recall the era when  everyone was cheating on their quotas and their capacities .................

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11 hours ago, ceo_energemsier said:

Their data is not very transparent, but if you also recall the era when  everyone was cheating on their quotas and their capacities .................

The secondary source data is not bad, and the EIA output data is pretty good, but where the real muddiness occurs is "proved" reserves which are about as transparent as the Mississippi in NOLA.

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Shame on you, Tom. Poking fun at all of the simple-minded media gurus and commentators. Are you suggesting that Saudi Arabia is like all other producers -- they want to sell their oil? Such a novel idea!!!

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I suppose that the next revelation will be that the Saudis are distressed when the market does not even want all of the oil they are willing to supply under OPEC's reduced output agreement. You might even suggest that under-production of their quota might be viewed as a bad thing, rather than a cause for rejoicing? My! My!

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On 5/9/2019 at 11:36 AM, Tom Kirkman said:

I'm shocked.   SHOCKED I tell you!

Nobody saw this surprise news coming at all ...

Saudis Said Willing to Meet All Orders From Ex-Iran Oil Buyers

Saudi Arabia plans to meet all requests for oil purchases it has received for June, notably from countries that had to stop buying Iranian crude because of recent U.S. sanctions.

The world’s biggest oil exporter has received moderate requests from customers for shipments next month, including from former buyers of Iran’s oil, according to a Persian Gulf person familiar with Saudi plans, who asked not to be identified because the matter is confidential.  ...

John Bolton is not happy, he needs constant tension!

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17 hours ago, William Edwards said:

Shame on you, Tom. Poking fun at all of the simple-minded media gurus and commentators. Are you suggesting that Saudi Arabia is like all other producers -- they want to sell their oil? Such a novel idea!!!

Someone will take up the slack : )

 

 

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On 5/9/2019 at 1:35 AM, ceo_energemsier said:
On 5/9/2019 at 1:24 AM, Marina Schwarz said:

I cannot believe my eyes. Is this really true? It cannot be! I am sure the good people in Riyadh did not expect anyone to experience any shortage because of the loss of barrels from the bad people in Tehran. I just know I'm correct. And still... Shocking, indeed.

Vad.mm replied (Google translate)

This is very easy to believe for 3 reasons: President Trump wants to get a chance for the 2nd term of the presidency and has already started the company for the voices of motorists, the Saudis are always ready to fulfill the requests of the American presidents, in addition the Saudis have problems with the budget and if it is not possible to raise the price to $ 80 / barrels it is worth taking the volumes from their enemies of Iranians.

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(edited)

Is this a wise move given that the OAPEC (Organization of Arab Petroleum Exporting Countries) website is oapecorg.org rather than oapec.org?  Who is taking this seriously?  Is it not possible that Iran may take this as an act of war from its neighbor?  What if this war is also fought on the internet online?

Edited by canadas canadas

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Saudi Aramco Said to Give Extra Oil to Crude-Hungry Asian Buyers

Saudi Arabia is set to supply more crude to oil-starved Asian refiners, and extract a heavy price for it.

State-run producer Saudi Aramco will sell additional cargoes to customers in the world’s biggest oil-consuming region for June loading, according to people with knowledge of the matter. The shipments will be on top of those scheduled under long-term crude contracts, they said, asking not to be identified because the information is confidential.

While the extra supplies will alleviate a squeeze driven by U.S. sanctions on Iran and Venezuela as well as unexpected disruptions from Russia to Nigeria, the refiners face a costly bill. Aramco raised its official selling price for June cargoes of its flagship Arab Light crude to the biggest premium versus Middle East benchmark prices in 11 months. The cost of the Arab Medium variety was set at the highest since December 2013, while Arab Heavy was increased to the most in over six years.

image.png.003bee5ed54c9d9547597169424e3ce6.png

The higher costs aren’t expected to deter Asian buyers, who had earlier this month asked OPEC’s biggest producer for additional supplies even before the kingdom set its pricing for June cargoes. The scramble for shipments follows the May 2 expiry of U.S. sanctions waivers for buyers of Iranian oil, which the White House decided not to renew as part of its campaign to squeeze Tehran’s finances.

Global benchmark Brent crude rose 0.5 percent to $70.26 a barrel on the London-based ICE Futures Europe exchange at 9:46 a.m. in Singapore on Wednesday, after closing 1.9 percent lower in the previous session. Prices slipped 1.8 percent last week, snapping a five-week rally.

Supply Uncertainty

Refiners in India, where oil demand is growing at the fastest pace in the world, are set to receive as much as 200,000 barrels a day of incremental supplies, the people said. Some refiners in China, the top crude importer, and Japan will also receive additional shipments, they said.

Aramco was willing to supply more volumes to meet the requests of a major Chinese refiner, said a person familiar with the company’s procurement, although details on the type and quality of oil on offer remained unclear. That’s before the official announcement of the kingdom’s monthly allocations for June, which is due later this week.

The press office for Aramco, known officially as Saudi Arabian Oil Co., couldn’t immediately comment.

Prices had seesawed previously on uncertainty over how Saudi Arabia would respond to the tighter U.S. sanctions, as well as other unexpected supply disruptions across the globe. Energy Minister Khalid Al-Falih has said the kingdom will keep the market balanced, but also signaled that the Organization of Petroleum Exporting Countries and its allies including Russia could extend output curbs until the end of this year.
Source: Bloomberg

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(edited)

7 hours ago, ceo_energemsier said:

To Make Up For Gap In Iranian Crude, Saudi Aramco Offers To Increase Oil Supplies To India By 200,000 BPD

 

https://swarajyamag.com/insta/to-make-up-for-gap-in-iranian-crude-saudi-aramco-offers-to-increase-oil-supplies-to-india-by-200000-bpd

 

Smoothy meeting market demand is the appropriate role of a dependable supplier and the swing producer. That is the way the business should run. Using blackmail tactics to extort higher prices by withholding supplies is an unsound business practice. Assigning prices, either low or high, and telling the customer "Take all you want" is OK.

Edited by William Edwards
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On 5/9/2019 at 1:53 PM, Marc Savoie said:

I'm stunned one or more nations would take advantage of another's demise even though they're in the same "Gentleman's Club" (OPEC). These things only happen in movies!

Not really surprising. Iran & Saudi were at loggerheads and Iran is especially unreasonable and impatient which exacerbates probems

On 5/9/2019 at 9:51 PM, D Coyne said:

There is often a big difference between what a nation says and what a nation does.

April output from Saudi Arabia was 9.82 Mb/d in April, we will have to wait and see what Saudi output is in May and future months.

The Saudis could also choose to limit output increases so that oil prices continue to rise, their net revenue could be higher with that choice depending on demand at that higher price level.  That might be the smarter choice.

They could simply say they are supplying all the oil that is needed.

The article says they will keep output to 10.311 Mb/d or less until the end of June.  So potentially they could raise output about 500 kb/d and remain within their OPEC quota.

Saudi Arabia has to supply Iran's oil share. There is no other way sanctions are going to work.

On 5/10/2019 at 8:37 AM, Marina Schwarz said:

They make more money when they sell more oil, regardless of prices. I have trouble seeing this as goodwill, especially when they make a point of repeatedly describing it as goodwill as if they'll be giving away the oil. Right.

Why does Saudi Arabia need more money? What will they do with the money if it is excessively surplus?

On 5/10/2019 at 10:00 PM, William Edwards said:

I suppose that the next revelation will be that the Saudis are distressed when the market does not even want all of the oil they are willing to supply under OPEC's reduced output agreement. You might even suggest that under-production of their quota might be viewed as a bad thing, rather than a cause for rejoicing? My! My!

Yeah, that will be a revelation indeed. Saudis will be happy to preserve their oil reserves for the future instead of wasting it by excessive suply. So, if Saudis have to be upset that they can save for the future by selling less oil, it will be a shocker

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Well  the rumor being put out..... a Persian Gulf person familiar with Saudi plans, who asked not to be identified because the matter is confidential ...... seems to be getting buried today with the claim of either 2 or 4 ships, 2 of them Saudis tankers getting damaged today. Brent is up and you can bet insurance for all tankers going into the Gulf of Oman just went through the roof. $70 Brent is looking like a great deal that lasted for a  week .

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38 minutes ago, notsonice said:

Well  the rumor being put out..... a Persian Gulf person familiar with Saudi plans, who asked not to be identified because the matter is confidential ...... seems to be getting buried today with the claim of either 2 or 4 ships, 2 of them Saudis tankers getting damaged today. Brent is up and you can bet insurance for all tankers going into the Gulf of Oman just went through the roof. $70 Brent is looking like a great deal that lasted for a  week .

It's not a rumor.  I first saw news of this surface yesterday on an 8chan forum, by people who monitor shipping traffic.

Here is a bit more 'official' news.

Middle-East Online:

Saudi oil tankers damaged in 'sabotage attacks' in Gulf

Riyadh warns criminal act constitutes serious threat to security, safety of maritime navigation, adversely impacts regional, international peace, security.
Monday 13/05/2019
 
 Saudi Arabia condemns acts of sabotage in the Gulf
 The two targeted tankers suffered significant damage
 UAE called on world powers to help keep maritime traffic safe

RIYADH - Saudi Arabia said Monday two of its oil tankers were damaged in "sabotage attacks" in the Gulf as tensions soared in a region already shaken by a standoff between the United States and Iran.

===========================

New York Times:

Saudi Arabia Says 2 Oil Tankers Damaged in Sabotage Attacks

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