DS

Saudis Buying Oil From Iraq

Recommended Posts

So we are supposed to believe Saudi Arabia will be getting production back up quickly when they are out trying to buy oil already for next month deliveries?

  • Like 1

Share this post


Link to post
Share on other sites

(edited)

1 hour ago, tetonper said:

So we are supposed to believe Saudi Arabia will be getting production back up quickly when they are out trying to buy oil already for next month deliveries?

I think it’s fair to say the supply crunch is yet to be felt. Aramco claims production is back up to 2 million barrels per day but that is still a shortage of nearly 4 million barrels per day. 

Edited by Ethan Ireland
  • Upvote 1

Share this post


Link to post
Share on other sites

23 minutes ago, Ethan Ireland said:

I think it’s fair to say the supply crunch is yet to be felt. Aramco claims production is back up to 2 million barrels per day but that is still a shortage of nearly 4 million barrels per day. 

OLD NEWS

This is old news from before the Saudis reversed their claim. 

Old news being published to increase oil price.

Share this post


Link to post
Share on other sites

1 hour ago, Jabbar said:

OLD NEWS

This is old news from before the Saudis reversed their claim. 

Old news being published to increase oil price.

Saudi’s current claim is that production is back up to 2 million. The plant is to be fully operational by the end of September. If that is the truth, that still leaves a near 4 million barrel per day shortage. 

Share this post


Link to post
Share on other sites

(edited)

21 minutes ago, Ethan Ireland said:

Saudi’s current claim is that production is back up to 2 million. The plant is to be fully operational by the end of September. If that is the truth, that still leaves a near 4 million barrel per day shortage. 

Aramco just denied the report.

Saudi Aramco has over 90 mm bbls of oil inventory in Saudi Arabia alone PLUS storage in Rotterdam , Japan and China. 

Besides the rumor was not about crude. It was rumored Saudi were diverting oil from their refineries to export.  Not to replace loss of oil but to beef up revenue before forced internal IPO 25 Billion U.S. $ to give favorable balance sheet.  They would buy Iraq diesel without recording it as a financial transaction. Again, making financials look good.

OPEC and Saudi production cuts are big joke.

Edited by Jabbar

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.