RE:RE:What would this mean for oil prices ?Chief1 wrote: Would this mean flooding the markets with more oil? Sounds bearish. I'm sure it's news the Saudis don't want to hear especially since China saying they don't want Saudi oil because it to sour and doesn't refine well in teapot refineries cause of the high sulfer content.
Depends how it's sold. If it's sold over 3 years, it's not so bad, extra ~100k per day on the market, especailly if they start in 2017 or later when the market is balanced.