Green Car Congress

AUGUST 12, 2015

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. The Saudis have already sparked an oil price war with the Asian refiners downstream by offering close to 2.8 Is Saudi Arabia losing the oil price war? “It

Oil Prices 150

Oil Prices Saudi Arabia Oil Price 150

Green Car Congress

JANUARY 13, 2012

million tons per year) has already been sold for 15 years under oil-linked price contracts, mostly directed to third-party consortiums of Taiwanese and Japanese buyers including INPEX. First LNG will be delivered in 2015. In addition to its LNG production, the Ichthys project is expected to generate 1.6 million tons per year.

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