Saudis begin to ramp up… WSJ

by Jim Colburn • Monday, June 11, 2018

Summer Said and Benoit Faucon, Wall Street Journal, report that the Saudis have begun to ramp up oil production by 100,000 bd, here…

”Saudi oil officials said Friday the kingdom has already boosted output last month by more than 100,000 barrels a day. That has raised Saudi overall output to about 10 million barrels a day.”

”These officials said Saudi Arabia plans to boost output by at least another 100,000 barrels a day this month but they didn’t say when.”

”Saudi Arabia and some other Persian Gulf producers recently favored the idea of increasing overall output by 300,000 to 400,000 barrels a day, The Wall Street Journal has previously reported. Most of that increase would need to come from Saudi Arabia, which enjoys more so-called spare capacity—the ability to quickly ramp up idle fields.”

 

 

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