Cheney says Saudis kept promise on oil production

Source: Reuters

says Saudis kept promise on oil production
(Reuters) - Vice President Dick Cheney said on Monday that Saudi Arabia had kept its promise to increase oil production capacity over the past three years.

Cheney was in Jerusalem after visiting Saudi Arabia last week. He said in Saudi Arabia, he reviewed the situation with Oil Minister Ali bin Ibrahim al-Naimi after Riyadh told the United States it was expanding capacity three years ago.

At that time they were producing about 10-12 million barrels per day.



Read more: http://www.reuters.com/article/politicsNews/idUSL2134819420080324?feedType=RSS&feedName=politicsNews

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Cheney, Saudi king seen sharing common views on oil
http://www.reuters.com/article/politicsNews/idUSL2134819420080322

Oil falls on Saudi statements assuring increases in supply
http://www.iht.com/articles/2008/03/24/business/oil.php

You better believe they kept that promise.

in Mexico, Russia, Northern sea, Iraq and Iran then? World production seems to be flat.

and maximize Dick and Dub's profits ... oil's thicker than blood. :puke:

increasing production, but somehow it never happens.

Talk is cheap, gasoline is expensive.

"Plans" are not actions. Personally, I don't think the Saudis can increase production as their oil fields have peaked, as do others.



http://www.theoildrum.com/node/2331

says without a disclaimer.

(formerly known as the "Jedi mind trick").

Latest Developments:

1) Total liquids - In February world production of total liquids increased by 175,000 barrels per day from January according to the latest figures of the International Energy Agency (IEA). Resulting in total world liquids production of 87.5 million b/d, which is the all time maximum liquids production. Average global production in 2007 was 85.41 million b/d according to the IEA. In the first two months of 2008 an average of 87.41 million b/d was produced. The EIA in their International Petroleum Monthly puts the average global 2007 production at 84.63 million b/d, slightly higher than the average 2006 production of 84.60 million b/d.

2) Conventional crude - Latest available figures from the Energy Information Administration (EIA) show that crude oil production including lease condensates increased by 450,000 b/d from November to December. Total production in December was estimated at 74.2 million b/d, which is 96,000 b/d lower than the all time high crude oil production of 74.3 million b/d reached in May 2005 (difference due to rounding errors).

A selection of charts from this edition:







http://europe.theoildrum.com/node/3749#more

and what it represented was a piece of crap nonsense. This is a disgusting coordinated attempt to fool people. And the Saudis are pawns of their friends. Leader to leader partnerships, betrayals, revenges constantly cycling and the little people are all in one grand size world boat trying to keep up. .