Economy 52,879 Posted May 29, 2016 Share Posted May 29, 2016 http://m.thenational.ae/business/energy/opec-forced-to-accept-new-reality-on-oil-prices Saudi Arabia is considering almost doubling their capacity of production to 20 million barrels a day (vs 11 Million right now) Supply would literally explode if they surged production that much. Supply would overwelm and theyd gain back much market share as Non OPEC producers could not compete in such a low price environment Canada, USA and Russia are the biggest producers outside OPEC and their oil industries would certainly be crushed! Link to post Share on other sites More sharing options...
PunkTheFunk 125,715 Posted May 29, 2016 Share Posted May 29, 2016 Saudi Arabia is coming for our oily weaves Link to post Share on other sites More sharing options...
Gagz4Gaga 7,278 Posted May 29, 2016 Share Posted May 29, 2016 Slay, Saudi. Make our world even warmer, you fcking bitch. nostalgia’s for geeks Link to post Share on other sites More sharing options...
Economy 52,879 Posted May 29, 2016 Author Share Posted May 29, 2016 39 minutes ago, Gagz4Gaga said: Slay, Saudi. Make our world even warmer, you fcking bitch. Well we consume what we consume they are just selling it We can produce without them thanks to Oil Sands in Canada and US Shale. We could increase production outside OPEC to meet world demand Its because of that they are increasing production to compete with North America Link to post Share on other sites More sharing options...
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