Saudi oil minister says short-term oil price changes won't affect OPEC's investment plans

International Herald Tribune ^ | Published: January 17, 2007 | The Associated Press

[thackney]

The Saudi's will pump at capacity

The Saudi's are not pumping at capacity. They have previously had spare production capacity and have recently reduced total production again.

OPEC Monthly Oil Market Report December 2006

[sgtbono2002]

I think you are dreaming, but it sounds good.

[AdmSmith]

... and in the OPEC-file that you linked it was stated that the Iranian production November 2006 was only 3.77 mbpd!

[thackney]

If you are interested, OPEC's Jan Monthly Oil Market Report is out today with the Dec numbers. OPEC held to the production cut they did in Nov. Saudi Arabia and Iran both slightly reduced their production in Dec.

http://www.opec.org/home/Monthly%20Oil%20Market%20Reports/2007/mr012007.htm