Saudi Arabia’s Crude Oil Supply Said to Fall in September

[dan_s]

All the "speculation" that Saudi Arabia is increasing production and lowering their posted price to gain market share is total BS. One of our Founding Members (Lou Powers) is an expert on Saudi Arabia. He has told me that they will NEVER produce over 10 million bbls per day. Their largest fields are now on secondary recovery (water floods), so they cannot increase oil production without risking damage to the fields. Plus, their internal consumption keeps going up.

Read this: http://www.forbes.com/sites/christopher ... r=yahootix

I am expecting OPEC to announce a cut of 500,000 BOPD at their November meeting. Too many of the OPEC members are suffering at today's oil price.