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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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percent in 2016. Given this environment, it is not surprising that the revenue elasticity of production is highly sensitive, and negative. They are fighting a multi-front war with Iran directly (in Yemen) and indirectly (in Syria, Lebanon, and Iraq). percent in 2014 to 3.3 percent in 2015, and then just 2.7 Racing to Barrel Oil.