Saudi Arabia: A Least Someone’s Wants To Invest In More Pumping

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Saudi Arabia says it will up its investment in oil drilling and infrastructure. That should, in theory, help the kingdom push more crude out in the years to come.

According to the FT, "State oil giant Saudi Aramco plans to invest $129 billion on new energy projects in the next five years." The capital will be invested in, among other things, refineries in the US and China, the world’s two largest crude consumers.

As bank robber Willie Sutton said when as "Go where the money is…and, go there often".

Douglas A. McIntyre