Saudi Arabia continues to turn screws on U.S. Shale

Thursday, May 14th 2015 - 08:17 UTC

Full article 5 comments

Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC's latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month's total of 10.29 million barrels. Read full article

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Briton
turn screws

who will tame this shrew/screw.
May 14th, 2015 - 10:37 am - Link - Report abuse 0
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Pugol-H
Because of the high spending by the Saudi gov, anything less than circa 90 USD/barrel and they are using their, not inconsiderable, reserves to fund the difference.

Longer term the Saudis cannot win this and the shale boys will still be there at the end of it, when the Saudis do try and raise the oil price the shale boys will kick in again and keep it lower than it would otherwise have been.

The Saudis can still force a drop in oil prices, but they have basically lost control of how far it can be pushed up.
May 14th, 2015 - 02:57 pm - Link - Report abuse 0
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ChrisR
@ 2 Pugol-H
“but they have basically lost control of how far it can be pushed up.”

And about time too being held to ransom by a bunch of arrogant raghead Jihad lovers.

If it wasn't for the oil they could be glassed over and good riddance.
May 14th, 2015 - 04:58 pm - Link - Report abuse 0
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yankeeboy
Stop gap measures that in the long run won't work. As the price fluctuates technology will get better and it will be cheaper and cheaper to extract.
The days of high oil are past us for the foreseeable future.
May 14th, 2015 - 05:33 pm - Link - Report abuse 0
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Briton
So will Britain star fracking, do you think.
May 14th, 2015 - 06:49 pm - Link - Report abuse 0
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