Seeing this in the Canadian press (Calgary Herald) on Goldman Sachs comments on Saudi oil production
- The world's largest oil exporter has already increased output to a 30-year high of 10.3 million barrels a day
- It will add even more to the global glut
- Goldman Sachs predicts the kingdom will push toward its maximum daily capacity, which the bank estimates at about 11 million barrels, in the second half of 2015
"If you are Saudi Arabia and you're looking at the new oil order we live in, you would go to full capacity," Jeff Currie, head of commodities research at Goldman Sachs in New York, said by e-mail on June 15. "The world has come around to the realization that the U.S. shale barrel is the swing barrel."
The piece was published June 20 and updated June 22