Apachewind Just ignore that. Saudi can't pump any more than it is now. This is to satisfy Asian clients thirst for cheap crude (Saudi blend usually) but the Saudi Aramco price has been inching up for the last six weeks to Asia while last week Europe was offered a $1.30 discount on Saudi light which is only 15% of production. Also we have Vitol plus Royal Dutch and the Chinese taking up as many VLCCs as they can for floating storage at these prices so they will in a few months time make a killing on sales for spot delivery. The next OPEC headache will be 2018 when the petrol from natural gas starts to take over from crude. This is already in production in Abu Dhabi plus two large plants are being built in US and Canada. That is 85% cheaper than petrol from crude oil. Its been tested for two years in USAF B52s and works so commercial airlines are next. Nice thing is car engines can use it without any adjustment.
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