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| Economy | |
| Saudi Sees Stable Global Oil Market In 2014 | |
| 2013-12-22 | |
"I estimate that stability will continue in terms of supply, demand and prices," Naimi said at the opening of a meeting in Doha of the Organisation of Arab Petroleum Exporting Countries. At the same time, Naimi said he was unconcerned about the potential market effect of a return of Iranian crude in the event sanctions are lifted after a possible deal with world powers over Tehran's controversial nuclear program. "God willing, there will not be any oversupply," he told journalists. "We know that the world consumes more than 30 billion barrels a year, and any new supply will be welcome. "Absent any supplementary supply... prices will skyrocket, something we do not want." Soddy Arabia ...a kingdom taking up the bulk of the Arabian peninsula. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual hajj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. When the oil runs out the rest of the world is going to kick sand in the Soddy national face... is the world's largest oil exporter. Along with the other members of OAPEC, it belongs to the Organisation of Petroleum Exporting Countries, which recently kept unchanged its overall production ceiling at 30 million barrels a day (bpd). OPEC is said to be comfortable with a price of $100 a barrel. While underscoring that oil producers want market stability, Naimi said the most important thing is for them and individual oil companies to continue investment to respond to market needs. | |
| Posted by:trailing wife |
| #2 A stable market would be one a certain oil producers cartel could not jack with. Frack on, dudes! |
| Posted by: SteveS 2013-12-22 14:23 |
| #1 Stable? Like a corpse? |
| Posted by: Cheager Smiter of the Huns2124 2013-12-22 00:47 |