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Saudi Arabia is consuming up nearly a third of its crude oil output and supply could fail to meet domestic demand in 2030 if the high consumption trends are maintained, according to a government report.
The Gulf kingdom, the world’s top oil exporter and largest Arab economy, currently produces nearly 8.5 million barrels per day of crude but local demand is as high as 2.5-3.4 million bpd, mostly used in power generation, said the report by the state-controlled Saudi Electricity Company (SEC).
The report suggested banning work of major shopping outlets during the afternoon period until 7.00 pm and limiting work periods for government departments to between 6.00 am to 12.00 noon in summer to save energy.
Originally posted by haarvik
reply to post by boncho
That's exactly what I was thinking. Personally, I think we have more oil than them, but we don't drill it. We want them to deplete their reserves so that we end up being the big dog when they run out.
Originally posted by neo96
i hope the tap runs dry and we can finally give the 1 finger salute to saudi arabia.
been a long time coming.
Originally posted by boncho
Maybe the plan is to use up the Saudi (and mid-east) supply until it's gone, then cut them off from world supply.
Speculating here, just a thought...