29.08.2013 - Considering some oil numbers before the inevitable in Syria
As the likelihood of an attack by Western powers on Syria continues to roil the oil markets, here are a few numbers that we offer as background: Syrian production: Itís about 50,000 b/d. A few years ago, it was about 350,000 b/d. Daysí cover: This figure is just for OECD nations, which consist of 34 key countries with market economics. Daysí cover is a statistic published by the International Energy Agency ó an arm of the OECD ó noting how many days of inventories would cover consumption if supply dropped to zero. In the second quarter of this year, daysí cover held by industry stood at 59 days, which is at the high end of recent estimates...............................................Full Article: Source
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