Oil Spikes & “Recession’s Handmaiden”
Squawk Pod
00:00
Is Soudy Arabia Ready to Resume Production?
We have four countries in opek that have spare capacity. The reality is, how quickly can any of them get ramped up and in a rock? Weren't they already cheating on what they were doing and exporting anyway? I mean, a rock is basically out. Now the answer seems to be about anywhere that they can possibly find. It, even venezuela or a rack. We think it's only a round sout of two million barrels. One country that is sitting on significant spare capacity right now is soudi arabia. But if soudy arabia maxis out then we're basicly in a situation with no spare capacity.
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