Quote:
Originally Posted by cdutka
If you want to talk to anyone about oversupply talk to the US and their ~66% growth of oil production in 3 years. Depending on the source SA is around 20% increase in the same period and again depending on the source Iran has had a 30% decrease in production. Mind you they want sanctions lifted so they could bring production from ~3m BPD to over 6m BPD so if up to Iran they would not be an innocent bystander in this if they had their way.
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Yeah, that's what I don't get. You hear people complaining about the Saudi's (or OPEC) and how it's "their fault" and that they need to take some kind of action. Like it's not a fundamental supply versus demand issue.
"Here, I'm telling you that you need to stop selling this thing so that we sell the exact same thing at a higher price. kkthxbye!"