Going Green

Saturday, June 14, 2008

Saudi's Indicate Increased Oil Production

It will take a while for any increase to have an impact at the pump due to the lag time from production through the transportation and refining phase before ultimately being shipped to the local fuel distributor. The most immediate impact will likely be on the futures market.

Saudi Arabia says more crude on way

Kingdom may be getting nervous about the effects of high oil prices

By Jad Mouawad
New York Times

Saudi Arabia, the world's biggest oil exporter, is planning to increase its output next month by about a half-million barrels a day, according to analysts and oil traders who have been briefed by Saudi officials.

The increase could bring Saudi output to...(complete article here).

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