Short thread:
Gien the comments I received on this post from those who are religiously bullish, it is clear that they do not know ABCs of Saudi spare capacity. So here we go:
1- Spare capacity is intended only for emergencies. The short period of high production is by DESIGN.
Gien the comments I received on this post from those who are religiously bullish, it is clear that they do not know ABCs of Saudi spare capacity. So here we go:
1- Spare capacity is intended only for emergencies. The short period of high production is by DESIGN.
https://twitter.com/anasalhajji/status/1487576344301027328
2- The short periods of high production were a function of oil demand. Has nothing to do with the inability to sustain production. Once demand declined, there was no reason to continue producing at a high level.
Maintaining spare capacity is what gives KSA power in the market.
Maintaining spare capacity is what gives KSA power in the market.
3- Where is spare capacity located? ALL over. They constantly rotate production. Doubting Saudi spare capacity by asking which fields have the spare capacity shows the ignorance of the person making the challenge. Do not be one!
#OOTT #oil
#OOTT #oil
4- The informed ones can make the case for crude quality. But even then, we still have about 1.3 mb/d of desired oil by global refiners in normal circumstances. If things are really tight, high sulfur heavy oil can be marketed to certain refiners.
#Crude_Quality_Matters
#Crude_Quality_Matters
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