In Zeev's Honor, Plan the Trade and Trade the Plan

[basserdan]

GULF STATES HIT OIL PRODUCTION RECORD

— FT’s Ajay Makan in London:

“The Gulf states are producing more oil than ever before, defying expectations that the US shale revolution would break their 40-year grip on the global oil market … Surging production in North America is expected to eat into the market for oil from Opec. But the quartet of Gulf kingdoms that dominate the cartel of oil exporters have so far emerged unscathed. Instead, they have expanded their share of the world market as political and social factors have reduced production from a number other members …

“Saudi Arabia, Kuwait, the United Arab Emirates and Qatar set aggregate production records in each of the last three months, according to fresh estimates from the International Energy Agency. In September they accounted for 18 per cent of global demand — a level only matched twice in IEA data stretching back to the 1980s”

http://on.ft.com/17BtQLA