Thursday 9 July 2015

OPEC BEWARE: WEST AFRICA COULD LEAD THE WORLD’S NEXT PRODUCTION BOOM

Crude Oil Prices Record Highest Drop in Three MonthsDuring the early 1970s, Saudi Arabia cut production as a reminder that it held the cards to the world’s petroleum resources. What the swing country did not count on was the slew of development and production that would subsequently take place in the North Sea. As a result, a new oil supply was born far away from the Middle East. Fast forward to today: With oil saturating the market again, Saudi Arabia has kept its spigots on this time to try and prove once again its place on top of the hydrocarbon pyramid.

Read more @ Sweetcrude Report

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