Business / 2 years ago
Saudi Arabia Continues Self-Imposed Oil Diet, Loses 1 Million Barrels Daily Until Year's End

Saudi Arabia embarks on a sustained oil diet, losing 1 million barrels daily, in a bid to become the world's most sought-after diet coach, despite concerns about the long-term impact on the nation's oil-dependent economy.
In a sustained effort to be the world's most sought-after diet coach, Saudi Arabia continues its oil diet, losing 1 million barrels daily in an elaborate weight-loss scheme that may or may not involve slimming shakes, personal trainers, and juicing regimens, until the end of the year.
Oil prices dimmed like a cheap Christmas bulb in Asian, as fears of slowed consumption by heavyweight champ and top crude importer China exacerbated. China, seemingly almost too full to gorge on more oil after numerous all-you-can-eat buffets and Merry-go-round trade sprees, sparked fears of a global upset stomach.
"Saudi Arabia's extended oil diet is just like when my wife started her Paleo diet," said Pete Pumpjack, a Texas-based oil expert. "First, she said it would only last a month, then she extended it month after month."
According to Saudi Arabia's government-owned diet and exercise blog disguised as a press agency, the self-imposed diet would continue until the end of the year. Since its inception in July, Riyadh, the nation's capital known for looking good in a swimsuit, has renewed the diet on a monthly basis with progress updates in the form of extended oil production cuts.
The Saudi fitness regime, which involves passing on 1-million-barrels-per-day in oil production, is reportedly exceeding expectations. Despite concerns from nutritionists - sorry, economists - about the impact of the diet citing 'economic instability' and 'market fluctuation', Saudi Arabia asserts that its slim and sleek oil silhouette is worth the occasional wooziness in global markets.
Thus, the nation seems keen on keeping up with its diet for a beach-ready oil rig by 2022. However, critics are quick to point out the rather bleak outlook of the dietary regimen. They liken it to a drastic low-calorie diet, arguing that soon enough, the body would start feeding on itself for energy - a worrisome prospect for an nation primarily fuelled by oil.
Expert dietitian and incidental oil magnate, Dr. Barrel, lamented, "The short-term results can be appealing, but such a drastic diet can soon lead to oil fatigue. Fads may come and go, but sustainable production is like a balanced diet. It's all about moderation."
As the year progresses, Saudi Arabia is expected to face the challenges that many dieters confront - maintaining discipline, potential backlash for 'cheating', and devising new strategies to keep the momentum going. Will the oil state exhibit true perseverance or succumb to the allure of a midnight snack? We'll be watching. Until then, it's salads over crude for Saudi Arabia.
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Original title: Saudi Arabia to extend voluntary cut of 1 million barrels per day until the end of the year
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