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85 comments on Saudis announce oil production increases...again...and again...and again...
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Oh please! Or with all due respect, I respectfully disagree.
Yes there are cultural differences but the nice thing about numbers is that they are universal and 2+2 always equals 4, in every culture.
The difference you are observing is the difference between a desire for accuracy and need to obscure accuracy, not the inability to understand it or achieve it in universally accepted terms.
It is actually insulting, not "understanding", to suggest that the Saudis don't understand what accuracy and openness is because of their culture. Let's all start from the assumption that they understand the reality of the situation as well or better than we do.... In that context we can interpret their statements to mean that they have an interest in obscuring what they know, and reducing the certainty of buyers about the reality of their production capacity.
Westerners aren't the only ones who can do math, oil field engineering, or economic projections.
I'm not questioning their ability to do math, or applying it functionally. You are essentially saying the same thing that I am, but maybe putting more of a value judgment on their obfuscation of the data. All cultures have their own way of twisting numbers to obscure reality. I just think that theirs is different from ours. The disjoint between production figures reported by different levels within Saudi Aramco and by the ruling class to me suggests something more than carelessness.
In any case, a value of 9 mbpd for current production should not be taken seriously.
We can apply the same logic to Washington, can't we?