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<blockquote data-quote="greybeard" data-source="post: 1301999" data-attributes="member: 18945"><p>I read the RBS article too. Things like that come out periodically, and this one was based more on the forecast for China than Saudi Arabia's oil production. </p><p></p><p>As an aside, I don't like low oil prices one bit, andlike Saudi Arabia even less, but the truth is, Saudi has not increased production much if at all. The rest of the producing world <u>has</u> increased production over the last few years, and that has helped cause the problem. All Saudi really did, was to maintain production instead of dropping it like they did in past years when prices dropped due to a glut of surplus crude. Some of the other OPEC nations went along with Saudi and some did increase production but not by much. Iran's sanctions being lifted won't help matters any, as they will soon be selling oil on the world market again too.</p></blockquote><p></p>
[QUOTE="greybeard, post: 1301999, member: 18945"] I read the RBS article too. Things like that come out periodically, and this one was based more on the forecast for China than Saudi Arabia's oil production. As an aside, I don't like low oil prices one bit, andlike Saudi Arabia even less, but the truth is, Saudi has not increased production much if at all. The rest of the producing world [u]has[/u] increased production over the last few years, and that has helped cause the problem. All Saudi really did, was to maintain production instead of dropping it like they did in past years when prices dropped due to a glut of surplus crude. Some of the other OPEC nations went along with Saudi and some did increase production but not by much. Iran's sanctions being lifted won't help matters any, as they will soon be selling oil on the world market again too. [/QUOTE]
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