One theory is that Saudi is keeping prices low to try and destroy the US shale industry.
Another is that OPEC is no longer operating as a cartel and Saudi couldn't persuade other governments to cut production to boost prices so they didn't want to lose their own market share.
Saudi may be in trouble, but we're more likely to see instability in other petro-states first, especially Venezuela.
Another is that OPEC is no longer operating as a cartel and Saudi couldn't persuade other governments to cut production to boost prices so they didn't want to lose their own market share.
Saudi may be in trouble, but we're more likely to see instability in other petro-states first, especially Venezuela.