Saudis to Carefully Use Dwindling Spare Capacity

摘要

Saudi Arabia will be cautious in deploying its remaining spare capacity, even if oil prices rise above the kingdom’s preferred range of $70-$75 per barrel, according to sources familiar with the matter. On paper, the kingdom has about 2 million barrels per day of idle production for an emergency, but the oil that can be deployed rapidly is less than that, industry sources tell International Oil Daily, due to operational and political constraints. At 10.5 million b/d, Saudi production is not far off its record of 10.8 million b/d.