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Saudi Oil Output Hits Record High
"Average daily output hit 10.3 million bpd in March," Naimi, cited by the official Saudi Press Agency, said Tuesday night. That was up 450,000 bpd on February and comes at a time of increasing competition for market share and as oil prices continued to drop. The highest previous record was registered in 1980, at 10.285 million bpd, according to the U.S. Energy Information Administration. Naimi expected the kingdom's production to continue at around 10 million bpd and also expected crude prices to improve. He also said 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... , OPEC kingpin and the world's top crude exporter, was prepared to help improve oil prices but needed cooperation from major OPEC and non-OPEC producers. Posted by: trailing wife 2015-04-09 |
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