Opinion: Saudi Oil Strategy: Brilliant Or Suicide?
Green Car Congress
AUGUST 13, 2015
In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. In October, Saudi sources first prepared the market with statements that the country would be comfortable with oil prices as low as $80 per barrel for “a year or two.” Racing to Barrel Oil.