Opinion: Saudi Arabia Continues To Turn Screws On US Shale
Green Car Congress
MAY 13, 2015
According to OPEC's latest monthly oil report , Saudi Arabia boosted its oil output to 10.31 That was enough for the de facto OPEC leader to claim its highest oil production level in more than three decades. The resulting crash in oil prices is forcing some production out of the market, and Saudi Arabia intends for the brunt of that to be borne by others. There is a lag between movements in the oil price and corresponding changes in production.