Monday, February 20, 2012

Saudi Arabia Cuts Oil Output

The world’s top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative.

This is big. With the U.S. attempting to shutdown Iranian oil supplies via financial means, global oil supplies are getting very tight. This coupled with Bernanke money printing suggest record high oil prices in the very near future.

1 comment:

  1. Hmm, do they want higher prices or are they running out of spare capacity? As much as the former would annoy some, the latter should scare everyone.