It appears the March to April (2017) decrease was greater than the February to March (2017) decrease. One would expect that all things being equal, it will only get worse for Saudi Arabia with summer approaching. Remember: Saudi says they are talking about total production cuts (not just export cuts, but total production cuts) and going into the summer months, Saudi Arabia exports less oil (thus less revenue) because they need their own oil to run their air conditioners. Yes, they use oil to make electricity.
Source: https://tradingeconomics.com/saudi-arabia/foreign-exchange-reserves.
For past posts on Saudi's cash situation, click on the "Saudi_Cash" tag.
"Holy, nightmare, Batman! What do we do now?"
No comments:
Post a Comment