Recently, a Wiki Leaks cable indicated fears that Saudi oil supplies are overestimated by as much as 40 percent.
Global production is on a plateau for some 5 years, and most large, cheapest oil fields are in decline.
Many countries, like China, Indonesia, and notably Egypt stopped exporting oil and started importing.
Jeff Rubin sees the dwindling oil supplies in Egypt as a major reason for the current political changes - the country could not afford to subsidize food anymore, and the re...![]()
Global production is on a plateau for some 5 years, and most large, cheapest oil fields are in decline.
Many countries, like China, Indonesia, and notably Egypt stopped exporting oil and started importing.
Jeff Rubin sees the dwindling oil supplies in Egypt as a major reason for the current political changes - the country could not afford to subsidize food anymore, and the re...