Article

2022-07-18 Arabia

Saudi Arabia decides to increase daily oil production to 13 million barrels

[HODHODYEMENNEWS] Saudi Crown Prince Mohammed bin Salman

...Crown Prince and modernizer of 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...
as of 2016. The Turks hate him, so he must be all right, despite the occasional brutal murder of Qatar-owned journalists...
(MBS) has confirmed at the opening of the Security and Development Summit held on Saturday in Jeddah, Saudi Arabia, that his country has decided to increase its oil production to 13 million barrels, an increase of 3 million barrels per day.

This statement is a violation of the terms of the recent OPEC meeting and if the Kingdom’s commitment to the Russian Federation not to increase its oil production.

MBS revealed at the beginning of his speech that his country has decided to increase its oil production to 13 million barrels per day. He added that his country will not be able to increase its oil production above this level.

Posted by Fred 2022-07-18 00:00|| || Front Page|| [11134 views ] Top
File under: Govt of Saudi Arabia

#1 So what? This is window dressing - 'we're doing our part' bullshit.

Posted by Raj 2022-07-18 00:12|| 2022-07-18 00:12|| Front Page Top

#2 Could some of the increase be the Russian oil they’re reportedly quietly buying at discounted prices? The arbitrage profit wouldn’t as much as pumping more of their own, but some say they can’t pump much more than they are now. Others say they don’t want to, which is a different question I am equally unqualified to answer.

Posted by trailing wife 2022-07-18 01:04|| 2022-07-18 01:04|| Front Page Top

#3 They're increasing from 14 million a day!

Posted by Rob Crawford 2022-07-18 08:19|| 2022-07-18 08:19|| Front Page Top

#4 Wrote & (c) a SciFi short story some years ago called

"Good the Last Drop"

Where all the oil being pumped out created massive voids in the Gulf Oil areas, which start to collapse.

It was interesting to run the numbers and see that 1 Barrel of Oil = 5.63 Cubic Feet.

So if Saudi Arabia is pumping say 10 M/Barrels average a day, has it created a void of 5.58 Cubic miles under its feet over the last 40 years?

Even if displaced with salt water, salt water has far less density than crude oil.

Posted by NN2N1 2022-07-18 08:56|| 2022-07-18 08:56|| Front Page Top

#5 One has to wonder...

What did Biden promise in return?

Posted by CrazyFool 2022-07-18 09:50|| 2022-07-18 09:50|| Front Page Top

#6 the saudis hit 12M bpd briefly in early 2020 then dropped way down as the world economy crashed

it might be able to hit 12M again for a while but probably it would take some extra drilling and extra pipeline to get there - maybe take several years

Posted by Lord Garth 2022-07-18 15:49|| 2022-07-18 15:49|| Front Page Top

#7 ^ and, factor in shenanigans courtesy of the Iranians or their Houthi puppets. They have hit Saudi oil facilities before.

Posted by M. Murcek 2022-07-18 15:52|| 2022-07-18 15:52|| Front Page Top

#8 Who's going to refine it?

Posted by Regular joe 2022-07-18 16:56|| 2022-07-18 16:56|| Front Page Top

#9 ^India and they send here.

Posted by Dale 2022-07-18 20:38|| 2022-07-18 20:38|| Front Page Top

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