Right, they can’t ‘put crude out on the market’ but they can lower the price, a point he cleverly avoids. WikiLeaks: Saudis often warned U.S.
Down a bit for the month, certainly no pressure on supply, but still trending modestly upward. This is a reasonable indicator of net world demand,
Looks like net demand is slowly using up Saudi excess capacity. But there’s a long way to go. No telling when they might alter prices-
OPEC (and mainly the Saudis) is the only entity with excess capacity, so it is necessarily price setter. Specifically, they post prices to their refiners
No sign the price hikes are coming from demand pressures. It’s just the saudis hiking price, thinly masked by the news headlines and passive commodity