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American self-centered-ness knows no bounds! As if nothing significant was happening in the middle east right now. Apparently they haven't been reading any Saudi journalism in months. Hardly a mention of anything unusual happening in the region. They aren't apparently watching even Al Jazeera but maybe watching Fox News or Reuters to come up with these nuggets.
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American self-centered-ness knows no bounds! As if nothing significant was happening in the middle east right now. Apparently they haven't been reading any Saudi journalism in months. Hardly a mention of anything unusual happening in the region. They aren't apparently watching even Al Jazeera but maybe watching Fox News or Reuters to come up with these nuggets.
Can we not think that they are seeing the level of orders drop due to supply increases so they are simply lowering the price to maintain share?
Like the years of $100 per bbl have brought in some new supply and now they have to drop the price in an attempt to maintain sales?
Right, exactly, markets at work. Or that ISIS is selling oil through turkey with Erdogan keeping a blind eye. While US tries to hit oil related ISIS targets that won't cause Oil Wells To Explode or Burn out of control.
A few million a day for ISIS helps keep them operating. So maybe Saudi Arabia contribution to the coalition is that they are making it less profitable for ISIS to sell oil by lowering market prices. ISIS was getting less than $50/bbl when the price was $100+ because they have to heavily discount to get anyone to take it. At $75-80/bbl they will be lucky to get $20-25/bbl, where it may not be profitable at all to pump and transport/smuggle.
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