article thumbnail

Opinion: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

Green Car Congress

If you are the world’s leading energy economy, you produce energy, that’s what you do.”. “A According to an August 26 Bloomberg article , the Saudi government is seeking ways to reduce investment in 2016 “.as percent increase) and 2016 (3.5 by Dalan McEndree for Oilprice.com. “If If You’re a Free Range Oil Producer.

Oil 150
article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

In both the United States and Russia, each of which produces roughly as much as Saudi Arabia, output increased in 2015 rather than decreasing, and will continue to increase in 2016 in the U.S. percent in 2016. million barrels per day in 1H 2015, in part because as Russia's economy contracted, reducing domestic crude demand to 3.47

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Energy is the foundation of Russia, its economy, its government, and its political system. They pose an existential threat to the industry and therefore to the Russian economy: The revenues Russia can earn from its crude and natural gas exports face intense pressure. in 2015 and 2016 respectively). billion respectively).

Russia 150
article thumbnail

Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

Green Car Congress

percent in 2016. National oil producers can and are shifting the cost of the lowered prices to other sectors of the economy. million), and its allies, UAE (2.87), Kuwait (2.8), and Qatar (.67), The Financial Times quoted analysts as estimating the Saudi budget deficit in 2015 at $130 billion. percent in 2014 to 3.3