https://sputniknews.com/amp/business/201809221068248823-oil-prices-spike-saudi-iran/

Ok, as far as credible sources it is in a low orbit, but I found where Wall Street Journal just posted something similar, but it is behind a pay wall. When this stuff starts happening, Trumps tweets become less effective. What if it is running low, because Trump had SA up their shipments to the US to appease the EIA weekly? Backfire?

And as a repeat to the last post, this indicates SA is increasing capex simply to maintain production.
https://aawsat.com/english/home/article/1393241/aramco-increases-production-offshore-fields?amp

So, “where’s the beef”? Answer, wasta. Toto just pulled back the curtain?

SA’s eventual statement will be that, yes, we have 2.5 million in excess capacity, but it will take a while to develop. Then that will turn into we need it to maintain production. Gasp! There is no OZ! But, not before elections.

More likely a gradual unfolding of the truth. Gimme a break, Iraq is falling apart and getting no new capex:
http://www.arabnews.com/node/1372831
Meanwhile the dazed and confused try to cover the meetings of the great and mighty OZ.
https://www.bloomberg.com/news/articles/2018-09-21/bulls-gain-conviction-in-oil-rally-as-opec-ministers-gather

No doubt, they will somehow claim another 500k barrels a day are somehow imminent, but they haven’t even met the first million, yet. My favorite comment out of this is that the US, Russia, and SA have the ability to offset these losses. Well, maybe, but well after a year and a half. And the US will play heck trying to convert LTO to Arab Light.

Fairly soon, prices will rise, and we will begin to witness, first hand, which destruction has the most impact on oil prices? Demand destruction, or supply destruction?

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