Iran cuts off oil supplies to French, British companies

This really should be a thread of its own:

Saudi Arabia Cuts Oil Output, Export: Industry Report

The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data.

AP

The OPEC heavyweight saw production decline by 237,000 barrels per day (bpd) from three-decade highs of 10.047 million bpd in November, the JODI data showed on Sunday.

The draw-down was sharper for the actual amount exported, declining by 440,000 bpd, or 5.6 percent, to come in at 7.364 million bpd, the data also showed. The level would still be similar to exports after a steep ramp-up last June.

In its monthly report on February 10, the IEA put Saudi Arabia’s production number for December slightly lower at 9.55 million bpd, a disparity of 260,000 bpd versus the JODI data.

[link to www.cnbc.com]

Or.... they are falling off of peak... just saying

bad timing for William Hague if he didn't connect the two things.

Fear...Fear...Fear !!!!!

This doesn't mean anything.

We will all go to work tomorrow and come home.

After a day or 2 Saudi's will say that they will increase their output.

This is nothing more than politics as usual.

The price of gas will go up but it was going to go up no matter what was happening.

Ooooooo Starting July 1. wtf

Lets see..well that gives those with oil some time to find new buyers or come to some agreement
BUT HELL

Everyone is on Alert so LETS JACK UP THAT GASOLINE WORLD WIDE BECAUSE ITS A THREAT

saudi output can go up a bit, but we're all fooling ourselves if we think they can make up all shortfalls forever. not to mention misunderstanding how oil reservoirs work.

Im sorry for acting like a dumb ass but if they do that how much money will they loose form sales or do they have enough counties buying it wont matter?

*From
*Countries

sorry

When you put 2 and 2 together you need to look at ALL the inputs.


Iran makes this statement 2 days after seeing the big wigs from China....

Obviously China has told them that they will buy more oil.
Saudi Arabia say they will not output more oil... thus making a short term gain for them and gaining pressure against all the countries that need to buy oil.


This is nothing but politics as usual.