Interesting read on Saudi Arabia's oil fields.
"While 78 billion barrels of oil have been pumped by the Saudis since 1987, and no major new finds initiated, it’s estimated that Saudi oil reserves are overstated by as much as 40%.
That opens the question as to whether that once mighty OPEC oil dominator will be falling far short; especially at a time when the developing world, and the global recovering economic powers are depending on what increasingly looks like a vastly overstated reserve hoax."
.......
As devious as the OPEC cartel is, I won't believe they are experiencing shortages until proven otherwise.
source:
http://www.bunkerportsnews.com/News.aspx?ElementId=d4fd517c-69d1-4750-9a26-b29fec9de08d