Is Saudi Arabia starting to panic? | FT Alphaville

Some excellent market commentary from Olivier Jakob at Petromatrix on Friday morning regarding the current state of oil market (dis)equilibrium and the potentially precarious position of Saudi Arabia.

Our emphasis:

Is Saudi Arabia starting to panic? 

Yesterday it was widely leaked that the Saudi crude oil production level in December was at 9.0 myn b/d , a drop of -0.5 myn b/d versus November and -1.1 myn b/d below the peaks of 2012 (April and June). The official Saudi production number is supposed to be released on Jan 20th but the number shown yesterday were precise enough that we have to assume that it is the official number that was leaked.

Is Saudi Arabia starting to panic? | FT Alphaville