The Saudis should drop the price of crude to $15 a Barrell immediately.
My understanding is that keeping 3000 princes and much of their population and certainly all of their government agencies on oil-wealth welfare necessitates prices even well above $60/barrel
The Saudis should drop the price of crude to $15 a Barrell immediately.
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The saudis need at least $90@barrel to pay their bills.
the great threat to the saudis that the guy is talking about is lower oil prices that come from over production.
but imho that’s not going to happen in the next 3-5 years.
but that said imho high oil prices like today won’t be in effect five years from now.
what’s more US oil production is going much higher that eia predictions of 9/5 million barrels @ day.