Saudi Arabia oil production
In a Persian‑language interview on Iran International TV, oil‑and‑energy analyst Omid Shokri (Washington‑based) explains Saudi Arabia’s 2019 oil output, its relationship to OPEC quotas, and the broader market dynamics. He states that Saudi daily production in 2019 ranges between 9.6 and 10.8 million barrels, while the OPEC reference level is about 10.3 million barrels. Saudi deliberately keeps output below the quota to preserve market balance. When Iran’s exports fall, Saudi alone cannot fully compensate; a coordinated effort with the United Arab Emirates, Iraq, and Russia is required to offset the shortfall and support prices. Shokri describes ongoing OPEC+ negotiations, highlighting current disagreements between OPEC members and Russia over the 2020‑2021 production shares and the price band that should apply. He notes a tentative consensus emerging among Saudi, the UAE, Iraq, and Russia to maintain equilibrium. The discussion also touches on U.S. political considerations, suggesting that President Trump may use oil‑price dynamics to influence the 2020 presidential election and domestic gasoline prices. Overall, the interview provides a snapshot of Saudi production policy, collective strategies to mitigate Iran’s reduced output, and the geopolitical and electoral implications of oil market movements.
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