Saudi's August Production Numbers "Released" -- August 31, 2018

Here's the headline:

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

And, again, the article did not mention that August is the hottest month in Saudi Arabia where they convert oil to electricity to run their air conditioners.

The metrics at this post are probably better metrics to track.