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Can Saudi Arabia pump enough crude oil ?

Posted on 15 August 2013

One of Wikileaks’ most celebrated revelations, in 2011, was a confidential mail from a US diplomat in KSA (Kingdom of Saudi Arabia) stating that he had been convinced by a Saudi oil expert named Sadad al-Husseini using data from as far back as 2005 that the nation’s oil reserves are overstated by nearly 40%. The diplomat was certain that KSA could not “keep a lid on oil prices”.
To be sure, there was no need to consult Wikileaks or the State Dept to hear that – for at least a decade Matthew Simmons, author of books including Twilight in the Desert: The Coming Saudi Oil Shock published in 2005 has worked the theme of Saudi exaggeration or lying about its oil reserves………………………………………..Full Article: Source


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VRS - who has written 39856 posts on Opalesque Commodities Briefing.


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