Since it seems now that OPEC (specifically Saudi Arabia) will never let go of its market share and will pump until the camels come home, what do you think the price of WTI will be after tomorrow's trading day. After the failure of Doha, it's every OPEC country for itself. Look out below, it's gonna be ugly.
6 replies (most recent on top)
Saudis are nothing but a pos state who can only show their intolerance and importance because of oil. High time American polity squeeze these head robes into diapers.
As far as your derogatory comment on India goes, it will always favor Iran over you pos.
Blame your idiotic independent O&G and Shale focused companies for dumping unnecessary amounts of oil and gas onto the market. Combine this with these same firms taking cheap money from Wall Street and you have too much supply and not enough demand.
China is foolishly trying to become another America and focusing on service sector growth with no one else to take its place except for India which is a sh--hole that its always been.
the oil industry is dying and being replaced by gas, electric cars and renewables. this story aint got a happy ending for oilfield hands
The Saudis can hold out for a few years, but they are taking a pounding on their currency and cash reserves. It is a question of who will blink first; Russia or Saudi.
You can thank Chatam House and the CFR and their democraptic and repubics members for your pain.
No one is going to drill any time soon... maybe 2020 or 2026. Exactly what's happened in the 80s
Saudi has the capacity of increasing 1mmbpd as quickly as having an erection. This game is far from over.
Shale drilling is toast.