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Page added on April 2, 2016
Saudi to Join Oil Output Freeze Only if Iran Joins
Saudi Arabia will agree to freeze crude oil production levels only if Iran and other major producers do so, the kingdom’s deputy crown prince said in an interview with Bloomberg.
Iran has said it will not join fellow OPEC and non-OPEC members in a plan to be discussed in a Doha conference on April 17 to freeze oil production in an attempt to boost prices.
Iran seeks to revive its oil industry following the lifting of international sanctions.
“If all countries including Iran, Russia, Venezuela, OPEC countries and all main producers decide to freeze production, we will be among them,” Mohammed bin Salman said.
10 Comments on "Saudi to Join Oil Output Freeze Only if Iran Joins"
makati1 on Sat, 2nd Apr 2016 6:18 am
“Saudi to Join Oil Output Freeze Only if Iran Joins”
Hahahahahahahahahahahahahahahaha! LMAO
joe on Sat, 2nd Apr 2016 8:10 am
I agree, Iran is on the silk road, they would well not to rely on oil the way the middle east did. The last time they did that, they ended up with an Islamic Revolution because the west and their own politicans treated oil like their own treasure chests.
Iran has developed its economy, its given women a much greater role in society than in sunni religious countries.
Oil only makes leaders lazy, and eventually corrupt.
Iran will increase production, but it knows its going to really hurt its enemies doing so.
Davy on Sat, 2nd Apr 2016 11:51 am
“Russian Oil Output Rises to Record as Production Freeze in Doubt”
http://www.bloomberg.com/news/articles/2016-04-02/russian-oil-output-rises-to-record-as-production-freeze-in-doubt
“Crude output expands to 10.912 million barrels a day in March. Exports last month increase 10 percent from a year earlier. Russia’s oil output set a post-Soviet high in March as the success of a proposed crude production freeze between OPEC members and other major producers appeared to be in doubt.”
Boat on Sat, 2nd Apr 2016 12:38 pm
Canadian tar sands will also grow over the next two years.
GregT on Sat, 2nd Apr 2016 1:22 pm
Alberta is in severe recession Boat, and is dragging down the rest of the Canadian economy with it. Much of those Tar Sands deposits, otherwise know as bitumen, require an oil price of over 70 USD/bbl.
Truth Has A Liberal Bias on Sat, 2nd Apr 2016 4:24 pm
As usual GregT has no fuvking clue.
“Oil production in Alberta was 15.099 million cubic metres in January 2016, up 3.3% compared to January 2015. ”
http://economicdashboard.alberta.ca/OilProduction
Truth Has A Libral Bias on Sat, 2nd Apr 2016 4:39 pm
So it seems laying off all those grade 8 educated knuckle draggers in Alberta didn’t slow production. I guess they weren’t needed. As well GregT’s suggestion that oil production can’t increase in a recession seems retarded.
Femi Adesina on Sat, 2nd Apr 2016 7:05 pm
Saudi Arabia is fooling other OPEC oil producing countries because it already has frozen oil production simply because it cannot produce more i.e. it is at its peak production. For the meeting to succeed Saudi Arabia and other countries who stepped in to fill in Iran production after western sanctions were imposed, have to cut production so that Irsn csn reavh its production quota of 4 million bpd.
makati1 on Sat, 2nd Apr 2016 7:17 pm
GregT, Boat must be heavily invested in those tar sands. It is the only reason he would defend it so strongly. Poor guy.
Boat on Sat, 2nd Apr 2016 7:55 pm
mak,
Lol I read reports. It makes no difference whether I like tar sands or not.