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From: deaconmike (Rep: 958) reply to mykDDate: 03/30/2020 12:09
Forum: Ipath Oil Return - Msg #10573Thread #674138236 (Rec: 1)
Re: Saudi Arabia to raise oil exports to record levels as price war rages

I'm sure you're more knowledgeable about this than I am,,
But i'm thinking that SA is pissed that we're energy dependent now &
not relying on OPEC.
Their goal is to hurt everyone imo and to hopefully eliminate some of
the competition for long term gains.



Reply to mykD - Msg #2829903 - 03/30/2020 12:05

Re: Saudi Arabia to raise oil exports to record levels as price war rages

The notion that SA is trying to hurt the US is the fallacy; they're sticking it to Russia. They have specifically targeted Russian oil buyers with their discounted pricing. I just read an article about how Ted Cruz and a bunch of other senators called up the SA ambassador and bitched her out about how they need to stop hurting US producers; this is so patently stupid and misguided. This is all about Russia and the craziness and ego of MBS. And I think people are underestimating how crazy and stupid MBS is and thinking he's rational and will back off the price war. I don't think he will. It will take Russia caving in, and I'm nut sure Putin will do that. But maybe...
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