All eyes were on US President Joe Biden as he departed Israel for Saudi Arabia on 15 July for his hotly anticipated trip to the Middle East energy giant. Mr Biden was still in the air as MEES went to press, and on the morning of his flight he noted that “Today, I will be the first president of the United States to fly from Israel to Jeddah, Saudi Arabia.” The US President hailed Saudi Arabia’s “historic decision” to open its airspace to flights to and from Israel.
Biden Arrives In Saudi On Quest For Oil: How Much Does The Kingdom Have In Reserve?
As US President Joe Biden arrives in Saudi Arabia few observers expect him to secure any firm commitments for a substantial oil output increase: the focus is more on managing sentiment than fundamentals. In a conciliatory gesture, Riyadh appears to have significantly increased crude oil exports ahead of his arrival. MEES crunches the numbers on Saudi Arabia’s spare capacity and crude output options.
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Charts
1: Saudi Arabia On Course To Smash Its Annual Production Record If It Pumps At Its Opec+ Ceiling From August
2: Saudi Output Capacity By Field (mn b/d)
3: Saudi Arabia Well Completions Fell To One Of The Lowest Levels This Century In 2021
Maps
Saudi Arabia Key Oil & Gas Infrastructure
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