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Posted on 12/15/14 at 4:39 pm to JayDeerTay84
quote:
Do you really think these country's will let Saudi bankrupt them?
I think at worst Russia/Iran may attempt to inflate prices by funding unrest elswhere in the middle east or perhaps even Venezuela. No one is attacking SA and you are naive if you think otherwise.
Saudi Arabia is not doing anything other than refusing to cede market share. It is not like they are exporting oil at a loss right now. They are just not going to cut production to make others happy. To an extent they will let the market work itself out.
Non-OPEC production growth rates will slow as shale production will be forced to get more efficient, credit will tighten, and operators will be less willing to take big risks.
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