Just a quick comment:<\/p>\n
Lots of reports that Saudi Arabia is choosing not to cut production, in order to squeeze its rivals with higher production costs. \u00a0I don\u2019t buy this. <\/p>\n
I think the answer is much simpler. \u00a0There are too many producers out there, who aren\u2019t a part of OPEC, who wouldn\u2019t get with the program and cut their own production, for the Saudis to be able to raise the price of oil merely by cutting their own production or that of their OPEC \u201callies.\u201d \u00a0And if that won\u2019t work, then they\u2019re only cutting their own revenue \u2014 which the Saudis are too dependent on with a complete absence of diversification in their economy.<\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"
Just a quick comment: Lots of reports that Saudi Arabia is choosing not to cut production, in order to squeeze its rivals with higher production costs. \u00a0I don\u2019t buy this. I think the answer is much simpler. \u00a0There are too many producers out there, who aren\u2019t a part of OPEC, who wouldn\u2019t get with the […]<\/p>\n","protected":false},"author":2209,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-131","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n