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Wednesday, April 22, 2020

Saudi Did Not Increase Production In March, 2020 -- Saudi Emptied Its On-Shore Storage To Flood The Market -- April 22, 2020

Update

Later, 9:40 p.m. CT: see first comment --
That's what the Saudi's reported to OPEC (the graphic below).
However, the average of estimates from the IEA, the EIA, CERA, Reuters, Platts and Argus is that Saudi Arabia increased output by 388,000 barrels per day to 10,058,000 barrels per day.
they were supposedly sending a fleet of VLCCs this way in an attempt to flood US storage (which they denied). Recent reports have them still pumping oil and cutting prices even after last week's agreement.
Original Post
 
Link here. This may have been previously posted.


... and nowhere to go.

2 comments:

  1. that's what the Saudi's reported to OPEC...the average of estimates from the IEA, the EIA, CERA, Reuters, Platts and Argus is that they increased output by 388,000 barrels per day to 10,058,000 barrels per day....they were supposedly sending a fleet of VLCCs this way in an attempt to flood US storage (which they denied)...recent reports have them still pumping oil and cutting prices even after last week's agreement...

    ReplyDelete
    Replies
    1. Very clearly they are "dumping" in broad attempt to destroy US oil sector.

      Delete

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