En Español



Very usefull links



PW
Bookstore





Institutional
links


OPEC
\





 




PW
Business Partners

 


IRAQ OIL THE FORUM

 


Blogspots

FxHQ Forex News

The Global Barrel

Tiempo Cultural

Gustavo Coronel

Iran Watch.org

Le Blog des
Energies Nouvelles

News Links

AP

AFP

Aljazeera

Dow Jones

Reuters


Bloomberg

Views and News
from
Norway

 

 

 

 

ISSUES....
Inside, confidential and off the record

 

Saudi: Not turning back


© Bast van der Schot

Joyce Karam on Twitter: "Interesting Cartoon on Saudi oil strategy.
Appeared in De Volkskrant, Netherlands

 

CRUDE OIL PRICES HAVE RISEN VERY SHARPLY YET AGAIN predicated upon the rumour that swept through the markets yesterday that the Russians we re willing to talk with the Saudis about cutting production and holding a meeting with OPEC to discuss precisely that. The Saudis are not going to cut production. You can count on that just like you can count on a Mother's love; like you can count upon the fact that UNC's basketball teams cheated on their grades, their te sts, their papers and the classes they supposedly attended; just like you can count upon Duke's basketball team having half as many fouls called upon their as their opponents (esp ecially when they play on their home court!) and like you can count upon Millennials to support any political figure that shall promises them free college tuition and a $15/hour minimum wage. ‘Tis like night follows day. The Saudis have been working to increase their production of crude on a steady, relentless basis for years, and as the chart this page makes clear they have only now gotten their production back to the levels that prevailed in the late 70's. They are not going to turn back row.

Further, the Russians cannot curtail production for the simple reason that their wells drilled years ago during the Soviet period and even post the Soviets were not insulated as we and the Canadians insulate ours. Since so much of their crude comes from frigid Siberia, unless crude continues to flow those well if shuttered in would freeze over and would have to be re-drilled. They Russians are not going to do that then. They may talk about curtaining production but they, like the Saudis, won't and actually can't.

 

Dennis Gartman / The Gartman Letter / 01 29 2016



ISSUES.... 01/ 02 / 2016 - Send Us Your Issues

ISSUES.... Inside, confidential and off the record
Is an independent journalist effort from Petroleumworld, on Inside, Confidential and Off The Record Information, its views are not necessarily those of Petroleumworld

Follow us in : twitter / Facebook


Send this story to a friend

Copyright© 1999-2016 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ stories by anyone provided it mentions Petroleumworld.com as the source. Other stories you have to get authorization by its authors.Internet web links to http://www.petroleumworld.com are appreciated

Petroleumworld welcomes your feedback and comments,
share your thoughts on this article, your feed. back is important to us!

We invite all our readers to share with us
their views and comments about this article.

 

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8 +/ 800x600 pixels





 


 

TOP

Editor & Publisher:Paul Ohep F./Contact Email: editor@petroleumworld.com

Contact:
editor@petroleumworld.com


CopyRight © 1999-2016, Paul Ohep F.- All Rights Reserved. Legal Information


PW in Top 100 Energy Sites


Technorati Profile


CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved.
This material may not be published, broadcast, posted online, rewritten or redistributed by any type of means, except with permission of the author/s

The information in this web site is proprietary and is protected under United States and International Copyright and Trademark laws. No part of this web site may be reproduced or transmitted in any form by any means whatsoever, except with permission of the author/s..

Petroleumworld encourages persons to reproduce, reprint, or broadcast Petroleumworld articles provided that any such reproduction identify the original source, http://www.petroleumworld.com or else and it is done within the fair use as provided for in section 107 of the US Copyright Law. If you wish to use copyrighted material from this site for purposes of your own that go beyond
'fair use', you must obtain permission from the copyright owner.
Any use of this site or its material, in any form, without the express prior written consent of the author, is prohibited by law and is subject to legal action. Legal Information

Top 100+

Technorati Profile
Fair use notice of copyrighted material:

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from Petroleumworld or
the copyright owner of the material.