Green Car Congress

AUGUST 12, 2015

Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. million barrels of low sulfur diesel to the European and Asian markets.

Oil Prices 150

Oil Prices Saudi Arabia Oil Price 150

Green Car Congress

JANUARY 13, 2012

Ichthys will develop approximately 3 billion barrels oil equivalent of reserves, including around 500 million barrels of condensate. First production is expected at the end of 2016. In addition to its LNG production, the Ichthys project is expected to generate 1.6 The entire annual production of LNG from the Ichthys project (8.4

Australia 210

Australia United Arab Emirates Yemen Angola 210

Green Car Congress

AUGUST 13, 2015

In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. The Saudis obviously miscalculated the degree to which their shift would negatively impact oil prices.

Saudi Arabia 150

Saudi Arabia Oil Iraq Iran 150