Publications: Notes at the Margin

The Saudi Change and the Oil Market's Direction (May 9, 2016)


This primary focus of this issue of Notes at the Margin is the discrepancy between published information on crude oil production in Venezuela and actual amounts. Our calculations suggest the gap between published production for Venezuela (2.2 million barrels per day according to Argus Media) and actual output today may differ by four hundred thousand barrels per day.


The story next week, though, and for the rest of the year will be Ali Naimi’s dismissal. Bloomberg reports that, according to the Kingdom’s official news agency, the Saudi oil minister will be replaced by Khalid Al-Falih, chairman of Saudi Aramco.


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