<DrumBeat: November 15, 2007The Oil DrumThis Week in Petroleum 11-15-07>

82 comments on How Would You Manage Saudi's Reserves?

Comments can no longer be added to this story.

MikeLaBonte on November 15, 2007 - 5:56pm Permalink | Subthread | Parent | Comments top

I have been thinking that sour oil is behind this "market is well supplied" line that the Saudis have been using. After all, it's not their fault if they're offering crap and no one is buying, right?

0
Comments can no longer be added to this story.
jjhman on November 15, 2007 - 8:59pm Permalink | Subthread | Parent | Comments top

I've raised this issue a couple of times here and it never seems to get answered. If they have crummy oil and no one can refine it, then both sides are right:

1. They have oil but no buyers
2. They don't have oil for people who want it.

These high prices are for light sweet crude. What is the spread today between WTI and the worst Saudi tar?

0
Comments can no longer be added to this story.