re: Saudis manipulating oil lower - ok with $80/barrel for next 2 years

quote:

---

Are you honestly suggesting Barack"CarbonFootprint"Obama pressured the Saudis (or anyone else) to make oil cheaper?

---

That looks to be exactly what happened. Kerry apparently visited SA a few weeks ago and negotiated a deal. Would certainly support Russia's assertion that SA's discounted prices are a political move.

quote:

---

Last Friday it was revealed that the purpose behind Secretary of State John Kerry's visit to Saudi Arabia a few weeks back was to sign a secret deal by which the leading OPEC state would saturate the markets with excess oil and cause
prices to fall for the global commodity. This move would have the consequence of causing vast harm to the Russian Rouble, and increase inflation and price instability for the Eurasian state.

---

LINK

Although Reuters reports that the deal was a guarantee by SA to make up for any oil disruption as a result of Iraq and Syria.


And here's an article from a better source talking about what an earlier post earlier said is Saudis simply fighting for market share.

LINK