Ed Yardeni charts the surge in Canadian and U.S. oil output vs. Saudi Arabia: "Their actual...

|By:, SA News Editor

Ed Yardeni charts the surge in Canadian and U.S. oil output vs. Saudi Arabia: "Their actual output exceeds the maximum sustainable production of Saudi Arabia, widely estimate to be 10M bbl/day... To prop up the price, the Saudis have been forced to lower their output by 1M bbl/day over the past seven months to 8.8M bbl/day during January to make room for all the crude pouring out of North America.”