The following is Saudi Arabia’s oil output from 1980 – 2012 I think at the moment they produce around 10,300,000 bpd
http://www.indexmundi.com/energy.aspx?country=sa&product=oil&graph=production
The next is 2015
http://www.tradingeconomics.com/saudi-arabia/crude-oil-production
Then wold consumption in metric tons 1970 - 2014
http://www.statista.com/statistics/265261/global-oil-consumption-in-million-metric-tons/
Then wold consumption in metric tons 1970 - 2014
http://www.indexmundi.com/energy.aspx
Then conversion calculator for metric tons to barrels of oil
https://www.eia.gov/cfapps/ipdbproject/IEDIndex3.cfm?tid=94&pid=57&aid=32
It would seem the Saudis have never rally lost market share so does this rally mean they are just trying to hold it until the 1.5 or so of over supply goes away seem stupid to me even if they took the whole hit themselves and cut their production by the 1.5 one would think they would still make more money because the price would go up?
If anyone else has a go at working it out I would be interested I got 10 + % market share on the years I did.
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