The Oil Drum: Saudi Arabia and Gas Prices

Following on from recent discussions on Saudi Arabian production declines, and the somewhat uncertain degree to which we might attribute them to declines in North Ghawar, I’d now like to take up the question of what have been the consequences of these declines for global oil supply, and for US gasoline prices in particular. We can discuss this impact regardless of the degree to which the declines have been deliberate or due to unavoidable declines in the output of some fields.

Let me start by providing the latest available data on Saudi oil production
Much more after the jump to The Oil Drum.