Saudi and UAE might flood 3 to 4 Mmbd into the market for several months. I think the SPR can absorb about 70 Mmbbls. This means we can suck up about 17 to 23 days worth of their increased production. It helps for sure, but their plan might be to prolong the pain for several months.
Saudi and UAE might flood 3 to 4 Mmbd into the market for several months. I think the SPR can absorb about 70 Mmbbls. This means we can suck up about 17 to 23 days worth of their increased production. It helps for sure, but their plan might be to prolong the pain for several months.