{"id":499,"date":"2014-10-23T12:23:11","date_gmt":"2014-10-23T12:23:11","guid":{"rendered":"http:\/\/olduvai.ca\/?p=499"},"modified":"2014-10-23T12:23:11","modified_gmt":"2014-10-23T12:23:11","slug":"saudi-arabia-surprises-market-with-supply-cut-announcement-oil-jumps-zero-hedge","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=499","title":{"rendered":"Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps | Zero Hedge"},"content":{"rendered":"<p><a href=\"http:\/\/www.zerohedge.com\/news\/2014-10-23\/saudi-arabia-surprises-market-supply-cut-announcement-oil-jumps\">Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps | Zero Hedge<\/a>.<\/p>\n<p style=\"margin-top: 0.25em; margin-bottom: 0.75em; display: block;\">Saudi Arabia, it appears, had enough of shooting itself in the foot for its American &#8216;partners&#8217;, and has admitted for the first time that it slashed supply in September. As Bloomberg reports,\u00a0<strong>OPEC\u2019s biggest producer cut supply to mkt by 328k b\/d in September to 9.36m b\/d, from 9.688m b\/d in August<\/strong>, according to a person with knowledge of Saudi Arabia\u2019s oil policy. Prices in September were flat admit this supply cut which suggests along with the build in EIA inventories seen yesterday that Saudi Arabia may have also been forced by\u00a0<strong>global demand weakness<\/strong>\u00a0to cut supply through October also.<\/p>\n<p style=\"margin-top: 0.25em; margin-bottom: 0.75em; display: block;\">\n<p style=\"margin-top: 0.25em; margin-bottom: 0.75em; display: block;\">It appears the Saudi supply cut in September offset any demand weakness as prices remained flat&#8230; which makes one wonder what the plunge in October represents (global demand weakness or a flip-flopping Saudi Arabia?)<\/p>\n<p style=\"margin-top: 0.25em; margin-bottom: 0.75em; display: block;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia Surprises Market With Supply Cut Announcement, Oil Jumps | Zero Hedge. Saudi Arabia, it appears, had enough of shooting itself in the foot for its American &#8216;partners&#8217;, and has admitted for the first time that it slashed supply in September. As Bloomberg reports,\u00a0OPEC\u2019s biggest producer cut supply to mkt by 328k b\/d in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[588,594,595,701],"class_list":["post-499","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-oil","tag-oil-prices","tag-oil-production","tag-saudi-arabia"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=499"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/499\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}