Stories from Saudi Arabia today show that we may be at peak oil exports even if we haven’t yet reached peak oil production. For oil importing countries like the US, the price for our imports is dependent on the balance between aggregate demand from net importers and aggregate supply offered to the global oil market. One of the key issues that has exacerbated the global oil supply stagnation of late, is the fact that oil exports have been generally falling since 2005. Match that up to increased demand by fellow importers in China, India and other fast-growing economies and voila (more…)