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Can Saudi Arabia's spare capacity run out?
Jul 19:
The OPEC’s idle production is estimated at around 3 million barrels per day, 1.5 to 2 million of which are concentrated in Saudi Arabia.
8For the moment it seems that Saudi Arabia does have sufficient additional production leeway to compensate for a dip in Iranian exports and Venezuelan production.
8The risk is that, with production thus increased, the country may end up with a very tight margin for dealing with future circumstances.
8That is why the markets have reacted nervously to events such as the oil worker strike in Norway and the interruption in the flow of exports from Libya.
Click on Reports for more
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8For the moment it seems that Saudi Arabia does have sufficient additional production leeway to compensate for a dip in Iranian exports and Venezuelan production.
8The risk is that, with production thus increased, the country may end up with a very tight margin for dealing with future circumstances.
8That is why the markets have reacted nervously to events such as the oil worker strike in Norway and the interruption in the flow of exports from Libya.
Click on Reports for more
