Crunching the numbers reveals recent Saudi statements regarding their oil production don't...

This news story has 8 comments:

Register or Login to rate comments »

paynebb Comments (366)
 
Who cares? The more important question is when you order oil in the world market is it filled. The answer is yes. The Saudis are filling all orders, which means there is no shortage and oil should not be trading at current levels. Remeber that we have lost a lot of oil productiong from Libya, yet we are still awash with oil. Wall Street is making a forturne off Americans.
27 Apr 2011, 11:14 AM Reply Like

erniem Comments (510)
 
Wall street is making a fortune? The high cost of oil is impacting most manufacturers and businesses. And American oil companies don't grow oil. They have to buy it or drill it. The Sauds are getting rich. Inflation is probably the primary factor in the current upswing, with investors buying oil as a hedge against the endless stream of fiat money from the Fed.
27 Apr 2011, 11:26 AM Reply Like

kmi Comments (3844)
 
And meanwhile builds in inventory are ignored...

seekingalpha.com/curre...

while that same report showing declines is pointed at to indicate constrained supplies....
27 Apr 2011, 12:52 PM Reply Like

erniem Comments (510)
 
The Sauds and open information don't go in the same sentence ever.
27 Apr 2011, 11:14 AM Reply Like

DRich Comments (3199)
 
Just the same way the fact free analysts and the fairy tales spin over the media are not to be believed. Shortages? Disruption? Massive demand increases? ..... Please, it's low interest money leveraged to the hilt with no regulatory oversight just to hold value against the dollar. It's as simple as that.
27 Apr 2011, 11:24 AM Reply Like

KTS Comments (48)
 
Is it even a question whether or not the Saudis are telling the truth in regards to their reserves? They don't have an infinite amount of oil and when there is a significant production shock somewhere in the world, this will come to light when Saudi cannot just up their production to meet demand.
27 Apr 2011, 11:24 AM Reply Like

MarketGuy Comments (3983)
 
Duh...Jim Rogers said this months ago.
27 Apr 2011, 11:28 AM Reply Like

Michael Clark Comments (7800)
 
High oil prices: blame Bernanke. A stronger dollar drives down the prices of all commodity (and stocks). Oh, oh: then we don't have an asset bubble. What can we do without an asset bubble?

Don't blame the Arabs. The trouble is in our own front yard.
27 Apr 2011, 12:32 PM Reply Like