12-05-2015, 12:27 PM
It appears to be every member for itself. I guess there is no opportunity for logic.
Saudi appears to be the only member with excess capacity.
Iran is getting proposals for development. (maybe 500 MBBLs/day excess)
Iraq has no plans for development that I'm aware of.
UAE is talking about another 500 MBLS per day in a few years
Kuwait?
The other members are "high cost producers". I guess they went under the bus.
Since the Brent sea is in decline, where else is their lower cost production? Only the US?
Saudi appears to be the only member with excess capacity.
Iran is getting proposals for development. (maybe 500 MBBLs/day excess)
Iraq has no plans for development that I'm aware of.
UAE is talking about another 500 MBLS per day in a few years
Kuwait?
The other members are "high cost producers". I guess they went under the bus.
Since the Brent sea is in decline, where else is their lower cost production? Only the US?