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Saudi Oil Output Falls to 19-Month Low as Exports Decline

Bloomberg -- Saudi Arabia’s crude oil output fell in December to a 19-month low as the biggest OPEC producer shipped less oil and local use of crude dropped, according to the Joint Organizations Data Initiative.

The country exported 7.06 million barrels of crude a day in December, 1.3 percent less than the previous month, JODI reported, citing statistics the government submitted to the Organization of Petroleum Exporting Countries. It pumped 4.8 percent less in the month to 9.03 million barrels a day.

The kingdom burned 303,000 barrels a day at power plants in December, the lowest level in 10 months, according to the data. That is 29 percent less than what it burned a year ago.

The country, which burns crude to produce electricity and desalinate water, is seeking increasingly to use natural gas as a

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Submitted Feb 17, 2013 By: EZExit

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Bearcat500 Champion Author Cincinnati Posts:9,731 Points:1,632,250 Joined:Nov 2005	Message Posted: May 5, 2013 10:03:12 PM Ignore Bearcat500 Report Abuse Ok
seatroad Champion Author Chicago Posts:1,526 Points:306,335 Joined:May 2012	Message Posted: Apr 26, 2013 4:23:59 PM Ignore seatroad Report Abuse 1
seatroad Champion Author Chicago Posts:1,526 Points:306,335 Joined:May 2012	Message Posted: Mar 9, 2013 4:08:56 PM Ignore seatroad Report Abuse sure
heydano67 Champion Author California Posts:1,671 Points:359,260 Joined:Feb 2012	Message Posted: Mar 5, 2013 3:19:45 AM Ignore heydano67 Report Abuse lets sell them some CNG at $60 a unit
tomok Champion Author Portland Posts:33,047 Points:2,346,485 Joined:Aug 2006	Message Posted: Mar 5, 2013 2:33:33 AM Ignore tomok Report Abuse Saudi Oil Output Falls to 19-Month Low as Exports Decline! The Saudis are affected by world oil production, cut back their oil production and have a 19 month low output too. A bad world economy and less demand for their crude oil, they cut back their oil production to try to raise the price of oil. After charging extra for their oil for so long and now they are feeling the pinch of a lower income. I feel for them – NOT! What goes around, comes around. Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high!
seatroad Champion Author Chicago Posts:1,526 Points:306,335 Joined:May 2012	Message Posted: Feb 25, 2013 4:24:01 PM Ignore seatroad Report Abuse true
honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Feb 23, 2013 7:57:32 AM Ignore honda0105 Report Abuse it's not as bad as it may appear on the surface.
seatroad Champion Author Chicago Posts:1,526 Points:306,335 Joined:May 2012	Message Posted: Feb 22, 2013 4:33:10 PM Ignore seatroad Report Abuse not good at all
58salty Champion Author Jacksonville Posts:6,645 Points:631,840 Joined:Aug 2011	Message Posted: Feb 18, 2013 6:39:19 PM Ignore 58salty Report Abuse This is NOT good. China is unseeing so much more, we are going to the summer blend of gas so refineries are shut down all that can happen is the price we pay will keep going up, up, up. God help us.
HawaiianGuy Champion Author Idaho Posts:9,533 Points:3,080,675 Joined:May 2003	Message Posted: Feb 18, 2013 2:57:45 PM Ignore HawaiianGuy Report Abuse Gee, you don't think this could be due to the poor state of the world economy, would it?
JohnLM Champion Author Orlando Posts:1,039 Points:530,715 Joined:May 2010	Message Posted: Feb 18, 2013 6:13:09 AM Ignore JohnLM Report Abuse It doesn't matter, drill more. Whine less.
carloco75 Champion Author Richmond Posts:3,721 Points:602,215 Joined:Oct 2010	Message Posted: Feb 18, 2013 1:15:02 AM Ignore carloco75 Report Abuse As it should..!
10k Champion Author North Carolina Posts:21,267 Points:2,255,970 Joined:May 2006	Message Posted: Feb 18, 2013 12:53:55 AM Ignore 10k Report Abuse is today "repeat day", or sumfin ??..put sand on your corn flakes, and douse it with your crude.. crunch, crunch..
Fawkes77 Rookie Author Oakland Posts:72 Points:5,840 Joined:Aug 2011	Message Posted: Feb 18, 2013 12:42:15 AM Ignore Fawkes77 Report Abuse blah
KrsnaDragon Champion Author Montreal Posts:2,417 Points:532,500 Joined:Nov 2011	Message Posted: Feb 18, 2013 12:36:51 AM Ignore KrsnaDragon Report Abuse Old 'news'.
obimerrill Champion Author Cincinnati Posts:1,445 Points:290,690 Joined:Jul 2012	Message Posted: Feb 18, 2013 12:35:10 AM Ignore obimerrill Report Abuse Poor Saudis...NOT
jcdakota Champion Author Baltimore Posts:1,347 Points:361,345 Joined:Nov 2010	Message Posted: Feb 18, 2013 12:31:13 AM Ignore jcdakota Report Abuse Lower the price and it will move!!!!
bell013 All-Star Author Atlanta Posts:516 Points:100,150 Joined:Feb 2013	Message Posted: Feb 18, 2013 12:29:32 AM Ignore bell013 Report Abuse Old news.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Feb 18, 2013 12:25:35 AM Ignore tedjm1 Report Abuse Smart dealers. Put their hands into lots of financial prospects. They make out great. You dom't know how wealthy these royals are.
wayoung56 Champion Author Alabama Posts:2,810 Points:820,285 Joined:Oct 2006	Message Posted: Feb 18, 2013 12:24:54 AM Ignore wayoung56 Report Abuse Hmmm...
Trudat316 Veteran Author Missouri Posts:323 Points:54,290 Joined:Feb 2013	Message Posted: Feb 18, 2013 12:22:14 AM Ignore Trudat316 Report Abuse Actually, this might not ONLY be an issue of greed, by limiting output. I heard 25 years ago, that after pumping full-out for several decades, the Saudis were terrified of running out of their chief export, oil. That's why they've been trying to diversify their economy by quietly buying many American and European companies, and so on. They know that they'll be tapped out one day. The huge oil reserves are in Iraq.
kgbellman Champion Author Ann Arbor Posts:2,722 Points:733,020 Joined:Mar 2011	Message Posted: Feb 18, 2013 12:22:11 AM Ignore kgbellman Report Abuse So exports drop because they kept playing with prices and countries are becoming self sufficient
Cableman66 Champion Author North Carolina Posts:2,120 Points:491,895 Joined:May 2011	Message Posted: Feb 18, 2013 12:22:03 AM Ignore Cableman66 Report Abuse Old news.
MN1 Champion Author Twin Cities Posts:3,364 Points:651,565 Joined:Jun 2011	Message Posted: Feb 18, 2013 12:20:05 AM Ignore MN1 Report Abuse Will have to cut back to only one new Lambo per year.
BEGTWO Champion Author Maryland Posts:1,947 Points:725,115 Joined:Sep 2010	Message Posted: Feb 18, 2013 12:17:33 AM Ignore BEGTWO Report Abuse It won't hurt them!
bridgerunner Champion Author Virginia Posts:4,792 Points:1,007,810 Joined:Jul 2009	Message Posted: Feb 18, 2013 12:16:44 AM Ignore bridgerunner Report Abuse Too bad.
crreed1 Champion Author West Virginia Posts:1,995 Points:2,528,285 Joined:May 2005	Message Posted: Feb 18, 2013 12:15:24 AM Ignore crreed1 Report Abuse old news
bell05 Champion Author Atlanta Posts:9,260 Points:1,877,585 Joined:Jun 2005	Message Posted: Feb 18, 2013 12:14:47 AM Ignore bell05 Report Abuse old news
heartbroken2010 Champion Author Ottawa Posts:4,354 Points:898,885 Joined:Aug 2010	Message Posted: Feb 18, 2013 12:13:35 AM Ignore heartbroken2010 Report Abuse change of pace i guess.
yyc2yow All-Star Author Ottawa Posts:658 Points:571,310 Joined:Dec 2009	Message Posted: Feb 18, 2013 12:13:27 AM Ignore yyc2yow Report Abuse $ going up again
mcbrownie220 Sophomore Author Toledo Posts:225 Points:155,125 Joined:Jun 2012	Message Posted: Feb 18, 2013 12:13:25 AM Ignore mcbrownie220 Report Abuse ok
PrinceLH Champion Author Ontario Posts:2,702 Points:539,995 Joined:Jun 2011	Message Posted: Feb 18, 2013 12:13:03 AM Ignore PrinceLH Report Abuse See what happens when we become energy independent?
GRUMPY55 Champion Author California Posts:1,629 Points:424,250 Joined:Oct 2011	Message Posted: Feb 18, 2013 12:13:00 AM Ignore GRUMPY55 Report Abuse old news
boatfloyd Champion Author Jacksonville Posts:1,728 Points:389,925 Joined:Mar 2012	Message Posted: Feb 18, 2013 12:12:36 AM Ignore boatfloyd Report Abuse Controlling the supply?
76chevy Champion Author Toledo Posts:3,992 Points:770,140 Joined:Jun 2010	Message Posted: Feb 18, 2013 12:11:58 AM Ignore 76chevy Report Abuse Price up, economy down.
pa79th Champion Author Pennsylvania Posts:1,792 Points:1,218,050 Joined:Jun 2007	Message Posted: Feb 18, 2013 12:11:44 AM Ignore pa79th Report Abuse Old news leftover from yesterday!
regout Champion Author Quebec Posts:2,960 Points:833,680 Joined:May 2010	Message Posted: Feb 18, 2013 12:11:07 AM Ignore regout Report Abuse The oil is still to high.
gocatgo Champion Author South Carolina Posts:15,664 Points:2,531,530 Joined:Apr 2006	Message Posted: Feb 18, 2013 12:09:54 AM Ignore gocatgo Report Abuse Gotta get that oil price up.
Math6149 All-Star Author Jacksonville Posts:873 Points:1,797,250 Joined:Jan 2007	Message Posted: Feb 18, 2013 12:09:47 AM Ignore Math6149 Report Abuse Price hike coming up.
Tigercat88 Champion Author North Carolina Posts:3,207 Points:618,815 Joined:Jul 2011	Message Posted: Feb 18, 2013 12:09:46 AM Ignore Tigercat88 Report Abuse SO WHAT!!!!!!
jetskijerry Champion Author North Carolina Posts:3,906 Points:774,220 Joined:Mar 2011	Message Posted: Feb 18, 2013 12:09:30 AM Ignore jetskijerry Report Abuse prices go up
Glock26 Champion Author Dayton Posts:1,534 Points:634,335 Joined:Mar 2011	Message Posted: Feb 18, 2013 12:08:08 AM Ignore Glock26 Report Abuse Good!!!
cheaper0ON All-Star Author Ontario Posts:988 Points:399,030 Joined:Jan 2012	Message Posted: Feb 18, 2013 12:07:56 AM Ignore cheaper0ON Report Abuse Old article.
UpSol7 Champion Author Augusta Posts:1,659 Points:760,600 Joined:Sep 2008	Message Posted: Feb 18, 2013 12:06:05 AM Ignore UpSol7 Report Abuse The country, which burns crude to produce electricity and desalinate water, is seeking increasingly to use natural gas Even the Saudis are trying to use less oil
judgemobile Champion Author Ohio Posts:7,575 Points:2,446,110 Joined:Nov 2005	Message Posted: Feb 18, 2013 12:05:27 AM Ignore judgemobile Report Abuse any excuse for higher prices
HEBster Champion Author Kentucky Posts:8,793 Points:2,375,000 Joined:May 2006	Message Posted: Feb 18, 2013 12:03:48 AM Ignore HEBster Report Abuse Figures!
TheSicilian Champion Author Jacksonville Posts:5,384 Points:1,470,725 Joined:Feb 2009	Message Posted: Feb 18, 2013 12:03:06 AM Ignore TheSicilian Report Abuse old and sad
TheeRedRam Champion Author Hartford Posts:3,168 Points:673,610 Joined:Jun 2011	Message Posted: Feb 18, 2013 12:03:05 AM Ignore TheeRedRam Report Abuse Lower the cost
rahcat Champion Author Grand Rapids Posts:2,478 Points:664,150 Joined:Jan 2010	Message Posted: Feb 18, 2013 12:02:16 AM Ignore rahcat Report Abuse Too bad...so sad.
Harry813 Champion Author Iowa Posts:3,010 Points:662,840 Joined:Jul 2011	Message Posted: Feb 18, 2013 12:02:03 AM Ignore Harry813 Report Abuse Maybe they will sell it at a lower cost?