Tagged: Saudi Arabia

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Oil prices are going down. Wait, what ?

This was my reaction when I saw oil prices drop recently to levels below $90. Not long ago they were indeed more around $110 than anything else. Lucky for us Thomas L Friedman from...

Oil : the headlong rush 0

Oil : the headlong rush

In French, we have an expression, ” la fuite en avant “ which can be explained this way : “A fuite en avant is something one does when one is in a losing situation,...

Saudi Arabia overstated its oil reserves by 40% 1

Saudi Arabia overstated its oil reserves by 40%

To the Guardian : ” The US fears that Saudi Arabia, the world’s largest crude oil exporter, may not have enough reserves to prevent oil prices escalating, confidential cables from its embassy in show....

Can Iraq quadruple its oil production ? 0

Can Iraq quadruple its oil production ?

According to an article from The Economist, Iraq has plans to quadruple its oil production by the next seven years. This would increase the production from the current 2.5 million barrels per day to...