OPEC Accused Of Hiding Spare Capacity

[Swordsmyth]

The U.S. State Department has lashed out against OPEC, accusing the cartel of hiding 1.42 million bpd in spare oil production capacity, S&P Global Platts reports, citing a statement sent to it by the State Department.
The State Department said figures from the Energy Information Administration suggested that OPEC was withholding 1.42 million bpd of spare capacity and the department was working with the cartel to “produce the spare capacity,” as S&P Global Platts put it.
The way this “hidden” number of barrels was calculated was not revealed.

The State Department spokesperson also told S&P Global Platts that Russia and Saudi Arabia were withholding production while the United States was ramping up, with the national total seen to rise by 1 million bpd within 12 months.

More at: https://oilprice.com/Energy/Crude-Oi...-Capacity.html

[bunklocoempire]

Private property rights?

End the Fed?

Competing currencies?

Nope.

3 x 5 card battle chosen and promoted.

[Swordsmyth]

Private property rights?

End the Fed?

Competing currencies?

Nope.

3 x 5 card battle chosen and promoted.

You want me to not post the news when the state department tries to bully other countries?

[bunklocoempire]

Heck no.

You keep posting whatever battles you feel you need to bring to light.