August 12, 2008 at 23:26 PM EDT
2008-08-12 Saudi Oil Output
[Skip to the end] Saudi Oil Output The Saudi production increase tells me world demand was up, even at the higher prices. Yes, US demand was down 800,000 bpd vs last year, and yes other world demand may fall. Only when demand for Saudi output falls sufficiently will they be dislodged from being swing producer and price setter. That [...]
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