Full Moon
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Wanted to get your thoughts on the currently low oil prices, and the refusal by KSA to reduce its production. Opec's meeting in Vienna yesterday didn't result in an agreement to reduce members' production shares - despite the demands of Venezuela, Iraq, and others.
Asharq Alawsat is a Saudi newspaper (with government control) that reported today “ all the oil Ministers were worried, except Ali Al Nuami (the Saudi Minster) who managed to stay calm and smile to news correspondents”. This a common way of Saudi Media to spread messages quietly. I 've seen similar messages and headlines in the Saudi Media (that are under government supervision) in the last 3-4 weeks.
Is the oil price another effective weapon used in the war against Iran? or it is being used against Iran and shale oil producers at one shot? May be. Or it is just another challenge that oil producers must live with after shale oil revolution? Needless to say that consumers are already in the 7th heaven and pray for this war to continue (if it exists). They truly deserve to celebrate as it has been almost a decade of high energy prices!
Any one with an experience in oil related issues is welcomed to comment here.
Asharq Alawsat is a Saudi newspaper (with government control) that reported today “ all the oil Ministers were worried, except Ali Al Nuami (the Saudi Minster) who managed to stay calm and smile to news correspondents”. This a common way of Saudi Media to spread messages quietly. I 've seen similar messages and headlines in the Saudi Media (that are under government supervision) in the last 3-4 weeks.
Is the oil price another effective weapon used in the war against Iran? or it is being used against Iran and shale oil producers at one shot? May be. Or it is just another challenge that oil producers must live with after shale oil revolution? Needless to say that consumers are already in the 7th heaven and pray for this war to continue (if it exists). They truly deserve to celebrate as it has been almost a decade of high energy prices!
Any one with an experience in oil related issues is welcomed to comment here.
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