21 May '12, 1pm

Drumbeat: May 21, 2012

Drumbeat: May 21, 2012

Posted by Leanan on May 21, 2012 - 10:00am Saudi Arabia knocks off Russia as world's biggest oil producer Saudi Arabia has overtaken Russia as the world's biggest producer of oil for the first time in six years as the kingdom tries to compensate for declining Iranian exports and attempts to push crude prices lower. Saudi production reached a 31-year high at 9.923 million barrels per day (bpd) in March, marginally more than Russia's 9.920 million bpd, according to data from the Joint Organisations Data Initiative (Jodi). Opec's largest producer has increased production in response to sanctions and an embargo levelled on Iran, and has made repeated assurances it would use its spare capacity to keep the markets supplied. Yet its efforts to calm the oil markets and lower crude prices to levels palatable to a vulnerable world economy are hampered by the inability of other count...

Full article: http://www.theoildrum.com/node/9200

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Service 21

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SearchCap: The Day In Search, May 21, 2012

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Drumbeat: May 23, 2012

theoildrum.com 23 May '12, 1pm

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Drumbeat: May 19, 2012

theoildrum.com 19 May '12, 1pm

Posted by Leanan on May 19, 2012 - 10:09am The age of extreme oil: ‘This used to be a forest?' Over the course of three da...

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We welcome constructive comments and allow any that meet our common sense criteria. This means being respectful and polite...

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Every president since Richard Nixon has called for the U.S. to wean itself from needing oil from unstable or unsavory coun...