Here are the numbers:
Saudi Arabia increased production from 10.40 million bpd in July to 10.48 million bpd in August.10.48. Not 10.47 or 10.49, but 10.48. "False precision."
Here are some more numbers:
- global supply / consumption: 100 million bopd
- North Dakota production: 1.2 million bopd
- Saudi Arabia: difference between 10.48 million and 10.40 million = 0.08 million = 80,000 bbls
- DAPL: 470,000 bopd = 80,000 bbls every four hours
The metrics at this post are probably better metrics to track.
Just curious, Bruce, what constitutes a "cold" month in The Kingdom?
ReplyDeleteI was off by a month: wiki says July is the hottest month of the year in Saudi Arabia.
DeleteWhenever my wife or granddaughters ask me a question about something that doesn't make sense, I tell them to a) follow the money; or, b) google it.
In this case, since no money was involved, I googled it:
July is the hottest month in Riyadh with an average temperature of 96°F (36°C) and the coldest is January at 59°F (15°C) with the most daily sunshine hours at 11 in July. The wettest month is April with an average of 25mm of rain.