Wednesday, December 30, 2015

SAUDI ARABIA FEELING OIL CRASH PAIN

Contrary to the belief at the beginning of the price war in late November, 2014, that Saudi Arabia could outlast all other producers because of its ability to produce oil at the lowest cost, the International Monetary Fund warned Riyadh in October it would run out of money within five years if it did not tighten its belt.  Too bad the world’s top oil exporter isn’t saving itself by doing the obvious: Stop dumping oil in a saturated market, admit that chasing market share at the expense of revenue isn’t working — and blame previous management.

No comments:

Post a Comment