Some analysts remain unconvinced about Saudi promises to ramp oil production if necessary,...


Some analysts remain unconvinced about Saudi promises to ramp oil production if necessary, because capacity just isn't there. Toss in Libya - producing, but likely not able to hit its target because of field depletion, and the IMF's estimate of a 20-30% oil shock if Iran stops exporting seems on the mark.

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  • kmi
    , contributor
    Comments (4587) | Send Message
     
    Libya - like Iraq before it - will produce way more oil under 'western guidance' than it ever did under Qaddafi.

     

    And the Saudis continue to ramp up production even when naysayers say they can't.

     

    Frankly, I continue to believe the Naimi more than most 'western' analysts/pundits/comme... since he repeatedly proves to be more honest.

     

    Of course, the great unspoken - China buying oil to diversify away from dollar holdings - won't be spoken from his mouth but I know I'm not the only one who holds this to be true.
    20 Mar 2012, 03:53 PM Reply Like
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