Saudia Fake Oil Output
By Micah Halpern
Friday August 10, 2018
I've Been Thinking:
Wall Street Journal Market Watch published a report that Saudi Arabia is faking their output numbers.
The reason the Saudis would fake their figures is to report to OPEC that they are controlling more of the market than they actually are. They would want to do that because the US has increased its output tremendously over the last year.
This fake is a classic example of how perception is more important than reality.
The reality is that the Saudis need to make themselves look bigger than they are.
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