Saudi Arabia Posts Major Oil Production Decline: Back on the Roller Coaster

Saudi Arabia, the world's top oil exporter, posted an almost 10% monthly production decline in March says a Thursday Wall Street Journal Online article. Saudi Oil Minister Ali Al-Naimi said Sunday that oil production from the kingdom was 8.292 million barrels per day in March, down about 800,000 barrels a day from 9.125 million barrels per day in February. A Strange and Confusing Situation Last February, with great fanfare, Saudi Arabia pledged to increase production -- making up lost Libyan exports. Now, we hear...

Source:
http://article.wn.com/view/2011/04/24/Saudi_Arabia_Posts_Major_Oil_Production_Decline_Back_on_the_/

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