Saudis launching an oil price war.

ReinyDays

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Saw that ... trying to shut down North American producers ... news to me that Russia joined OPEC ...

I find all this a better reason to curtail fossil fuel consumption ...
 

RodISHI

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Cool, does this mean gas will be back down to a buck thiry-eight in a day or two?
 

Picaro

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Saudis are desperate for investment capital for their sovereign fund; they figure they have a bout 10 year window to try and get those investments up to replace their oil business, which is going to decline rather steeply over the next decade. They now face a reverse of their heydays of the 1970's OPEC price increases, when the 'oil shortage' played an important role in bankrupting the Soviet Union and the Brezhnev Doctrine was no more. Now the Russian can use their oil as a weapon against them in the ME.
 

luchitociencia

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Amazing.

Saudi Arabia is the most powerful country of the world.

A royal member of that Saudi family sends to kill a man and cut his body in pieces in an embassy in a foreign country and nobody, no powerful government (s) in the world will do anything about it.

Saudi Arabia holds production or increases it and the world economy changes according to the will of the king of that country.

We live in sad times.
 

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