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Saudi Arabia Cuts Oil Output, Export: Industry Report
CNBC.com ^ | February 19, 2012 | Yousef Gamal El-Din

Posted on 02/19/2012 5:24:41 PM PST by NRG1973

The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data.

The OPEC heavyweight saw production decline by 237,000 barrels per day (bpd) from three-decade highs of 10.047 million bpd in November, the JODI data showed on Sunday.

The draw-down was sharper for the actual amount exported, declining by 440,000 bpd, or 5.6 percent, to come in at 7.364 million bpd, the data also showed. The level would still be similar to exports after a steep ramp-up last June.

In its monthly report on February 10, the IEA put Saudi Arabia’s production number for December slightly lower at 9.55 million bpd, a disparity of 260,000 bpd versus the JODI data.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: energy; oil; saudiarabia; saudiarabiacutsoil
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To: Drango

There is nothing in it for them since Obummer lets Iran do whatever the hell they wishe to do.


21 posted on 02/19/2012 5:58:25 PM PST by Army Air Corps (Four Fried Chickens and a Coke)
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To: Army Air Corps

wishe = wish.


22 posted on 02/19/2012 6:01:23 PM PST by Army Air Corps (Four Fried Chickens and a Coke)
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To: whitedog57
So say you.

But I'm not going down without a fight to the VERY END. I'm pretty sure I have a lot of company.

FUBO!

23 posted on 02/19/2012 6:04:09 PM PST by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: whitedog57
Live with it. The game is over and the 60s Commies won.

Not quite but we're close. However if you look a generation out we're definitely done.

24 posted on 02/19/2012 6:12:18 PM PST by plain talk
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To: NRG1973

Just like I read during the Carter years. Good thing that was a lesson and we started drilling for our own oil. Oh ... wait ...


25 posted on 02/19/2012 6:12:21 PM PST by SkyDancer ("No Matter How The People Vote There Will Always Be A Federal Judge To Over Turn It")
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To: whitedog57
"Obama will win by a landslide. No matter how bad it gets. 50% of Americans are on the dole, so there is no chance of a Republican President ever again. And the Dems will regain the House. And we become a Marxist dictatorship. Live with it. The game is over and the 60s Commies won."

Can't disagree with you there.

26 posted on 02/19/2012 6:20:52 PM PST by CapnJack
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To: NRG1973

This could be the beginning of the end. Looks like obama and his muslim brethren are about to hit the U.S. in the gut. The plan is coming together.

Meanwhile, gold and silver are up a bit. Will they continue to rise? They should. Eventually it’ll take some gold to buy gas.


27 posted on 02/19/2012 6:25:13 PM PST by Terry Mross (Difference between a conservative / liberal-obvious. Difference between a rep and a dem? None)
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To: NRG1973
Ridiculously High Gas Prices Expected To Hit Major US Cities By Memorial Day
28 posted on 02/19/2012 6:26:19 PM PST by blam
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To: NRG1973
they are going to beat the fed to the punch by cutting exports.

That's part of it, the Saudi's ain't stupid economically.

However, it's more about survival and protection. The Saudi royals have a dream on Earth protected by US military might. They paid a pittance to Muslim Brotherhood, al Queda, and Taliban types for peace while exiling or beheading any non Saudi fundamentalist Muslim that caused a bruise in their applecart with the US.

At the same time they fund Mosques all over the west, but not in the surrounding Arab states. The radical Muslims in those states have always had eyes on the Saudi Royals income to fund the Muslim Brotherhood's expansion to a Grand Caliphate without the Saudi's, just with their money and oil.

With the US history of double crossing and selling out friends, and now getting on it's knees to terrorist nations, the Saudis know what's coming.

Russia and China will give them protection from Iran and the Muslim Brotherhood's Caliphate, but the price will be selling oil to China, and strangling the west's energy for Russia's benefit, and the Saudi's won't be losing much dough, while saving their lives and positions.

29 posted on 02/19/2012 6:27:08 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it. (plagiarized))
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To: CapnJack

This is truly America’s last chance both in terms of fiscal sanity and illegal immigration. If Obama was re-elected and the Dems retook the House, look for a general amnesty for the illegals which would ensure Democrat control for two generations. Of course, the election of a Republican is no guarantee that either amnesty will be defeated or the budget will be balanced.


30 posted on 02/19/2012 6:27:22 PM PST by littleharbour
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To: whitedog57
The game is over and the 60s Commies won.

Screw that attitude! I'm with Jimmy V ... Don't Give Up! Don't Ever Give Up!


31 posted on 02/19/2012 6:31:46 PM PST by Servant of the Cross (the Truth will set you free)
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To: whitedog57

Hey dog, you sound quite Tokyo Rose - ish


32 posted on 02/19/2012 6:32:01 PM PST by Moose Burger
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To: Army Air Corps
So, they noticed that he screws everyone with whom he has dealings (including the people of the US).

Yep, Zer0 is consistent.

33 posted on 02/19/2012 6:35:50 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it. (plagiarized))
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To: NRG1973

Looks like the SAUDI’S don’t want Obama reelected, either.

NO WAY this moron wins if gas hits $5 a gallon this summer.


34 posted on 02/19/2012 6:41:46 PM PST by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: tobyhill

It all smells of doom for Obama.


He will probably get MORE votes. The American people are just that stupid.


35 posted on 02/19/2012 6:42:54 PM PST by chessplayer
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To: Jim from C-Town
They are by no means all dead beets.

Yes, some could be radishes.
36 posted on 02/19/2012 6:48:27 PM PST by crosshairs (Liberalism is to truth, what east is to west.)
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To: tobyhill
“It all smells of doom for Obama.”

Which is why they are trying so hard to make social issues the political battle subject of choice. If go into November arguing contraception, don't ask don't tell, gay marriage, etc., the battle democrats are choosing for us, then they win. If we go into it talking about gas prices, the economy, drug cartels at the border, broken Obama promises, then we win.

37 posted on 02/19/2012 6:54:54 PM PST by NavyCanDo
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To: tobyhill
It all smells of doom for Obama.

And we're along for the ride.
38 posted on 02/19/2012 8:00:14 PM PST by AD from SpringBay (We deserve the government we allow.)
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To: HereInTheHeartland
There is one 3 foot pipe line bringing it to just south of Chicago. Do you never look at the maps.
39 posted on 02/19/2012 9:11:10 PM PST by org.whodat (Sorry bill, I should never have made all those jokes about you and Lewinsky, have fun.)
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To: tobyhill

“Even the Lame Stream Media can’t ignore Obama’s destruction forever.”

I wish I could believe that. The Lame Stream Media and Commursts have no shame. They will do whatever necessary, legal or illegal, to assure The One wins.


40 posted on 02/20/2012 12:32:28 AM PST by animal172 (Calling the Founding Fathers!! We need your help.)
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