[hondact200]

This is great, prices drop lower and lower. Guess what America still produce oil because eventually the bastards will stop producing and selling and here in America we keep going on. Russia is losing millions because of the oil issue. So the Russians will strive to cause problems because there supplies will be depleted as they cannot be profiting if the price drops and drops. The cost of Ukraine and Crimea are devastating the Russian economy. Lets face it Russia and the Arabs are toast.

[grumpygresh]

Not good. If the oil price is pushed lower, what do you think Russia will do? They will create a military crisis which will cause a rise in oil and gold as a means to boost their economy and crash the Western markets.
I don’t think playing chicken is a good thing.

[catfish1957]

I saw an article on Drudge today where a Russian tycoon claims that Russia and OPEC can freeze the US out of it's shale play, with free falling oil.

I have been in the oil industry for about 35 years, and about snorted coffee on my keyboard. It took me awhile, but what the dufous isn't sharing is this data (2010-2014):

Oil production as percentage of GDP

Saudi Arabia- 45.8%

Russian Federation- 13.9%

United States- 0.9%

[Cronos]

Not really -- Russia has a lot of foreign exchange reserves and it also has a deal to sell to China. Their budget is based on an oil price of about $100/barrel

Saudi ARabia's budget is based on oil price of about $80/barrel, but they can take pain for a few months if they get to kill the US shale revolution

The UAE and Kuwait and Oman are even lower -- around $40 to $50/barrel

Venezuala is in deep doo-doo as their budget is based on oil at $140/barrel as is IRan

SAudi is using this to kill the US shale gas (enemy number one) and hurt Iran