02-17-2021, 11:29 AM
Saudi oil inventories fell to 140.16 MMbbls in December. That is the lowest inventory since 2002 (19 years).
How does their inventory continue to decline if they are holding back significant production?
Will inventory build by 1 MMbbls/d in Feb/Mar as a result of their unilateral cut?
What happens when the market demands the 4 MMbbls/d production they are purportedly holding back to be supplied again? Is it there? How quickly can they ramp?
How does their inventory continue to decline if they are holding back significant production?
Will inventory build by 1 MMbbls/d in Feb/Mar as a result of their unilateral cut?
What happens when the market demands the 4 MMbbls/d production they are purportedly holding back to be supplied again? Is it there? How quickly can they ramp?