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Page added on January 21, 2015
Saudi Aramco CEO says oil market will rebalance itself
It will take some time for the oil market to rebalance, but the market will balance itself, the head of Saudi Arabia’s state oil company Saudi Aramco said on Wednesday.
Expectations of higher oil prices by many investors have been shaken to a large degree, said Saudi Aramco Chief Executive Khalid al-Falih, speaking at the World Economic Forum in Davos.
Saudi Arabia is the largest oil producer in OPEC, which in November declined to cut its oil output and decided instead to focus on market share.
6 Comments on "Saudi Aramco CEO says oil market will rebalance itself"
Plantagenet on Wed, 21st Jan 2015 7:06 pm
The market is almost always balanced. When there is an oil glut, the price of oil goes down until the market is in balance. When oil supply tightens the price of oil will go back up.
GregT on Wed, 21st Jan 2015 10:51 pm
The shortage of oil that fuels our economies continues, and the shortage will only get worse going forward.
bobinget on Thu, 22nd Jan 2015 8:37 am
http://uk.businessinsider.com/saudi-arabias-nightmare-is-now-unfolding-in-yemen-2015-1?r=US
KSA edging closer to ‘hot’ war. (with Iran)
Oh, what a twisted world we sit on.
With Iran as the only viable foe of ISIL, our great Allie Saudi Arabia is starting up, not a proxy war
using Syrians as fodder but one with missiles.
In the past I gave KSA till Christmas. That prediction is under review.
This is only the second day of the eight that will change history.
bobinget on Thu, 22nd Jan 2015 8:54 am
Seeing as how China bought Venezuela and Ecuador out from under US, Iraq and Saudi Arabia
become absolutely vital for US oil supplies.
Watch for another thousand ‘advisors’ to be sent to the Iraq/Syria theater of operations.
Still another two thousand Marines to Kuwait and Yemen. We need protect American personal in Yemen don’t ya know.
This leaves ‘brush fires’ in Nigeria, Libya, Algeria,
S.Sudan, Mali etc. unattended
The U.S. Embassy warns all U.S. citizens to avoid the areas around 50 and 60 Meter Road near the Presidential Palace, Presidential residence, and Haddah Area in Sana’s due to heavy fighting. While the fighting appears to be politically motivated and an internal domestic dispute not directed against foreign interests, all U.S. citizens should be vigilant of the continued high risk of kidnapping and terrorist attacks throughout Yemen. U.S. citizens living in Yemen should take extra precautions and consider leaving the country.
The U.S. Department of State continues to warn U.S. citizens of the high security threat level in Yemen due to terrorist activities and civil unrest. The Department urges U.S. citizens to defer travel to Yemen and those U.S. citizens currently living in Yemen to depart.
U.S. citizens in Yemen remain vulnerable to kidnappings and terrorist attacks, especially when in transit to and from residences or workplaces. U.S. citizens should exercise caution and take prudent security measures in all areas, especially those areas frequented by Westerners. All U.S. citizens are reminded to vary their routes and times for all travel, maintain a high level of vigilance, keep a low profile, lock car windows and doors, carry a cell phone at all times, and report suspicious incidents to the Embassy.
Speculawyer on Thu, 22nd Jan 2015 1:32 pm
Yes, it will. But there will definitely be some pain for a lot people during and after this rebalancing.
Northwest Resident on Thu, 22nd Jan 2015 1:42 pm
Rebalance itself? Do you mean, like when a giant star goes supernova after burning up all its hydrogen and collapsing upon itself to form a black hole? That kind of rebalance? Very likely…