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S Illinois | KSA increased oil production by 2.5 million barrels from 2009 up to 2015. In that same time period, the US has increased production by 4.5 million barrels. In addition other fuel and energy production has also increased in the US. I would assume Canada and a few other producers also have increased production by quite a bit. But yet it was completely Saudia Arabia causing the oil to drop in the last year? Maybe we just have the normal commodity production cycle.
Edit: KSA production history http://www.tradingeconomics.com/saudi-arabia/crude-oil-production
US production taken from EIA website.
Edited by w1891 1/20/2016 20:37
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The End of Saudi Arabia?
