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From: mykD (Rep: 15) reply to deaconmikeDate: 03/30/2020 12:32
Forum: Ipath Oil Return - Msg #10576Thread #674138236 (Rec: 0)
Re: Saudi Arabia to raise oil exports to record levels as price war rages

I think SA accepted US production a while ago and understand that its future growth isn't terribly great, so they were willing to manage the market with cooperation of OPEC+, which included Russia. They were about to cur production again when Russia bailed on it. This is all about Russia. And Russia has an end game, and I think it's trying to get the US ti lift sanctions. But the US can endure this price war better than anybody.



...and I'm about to get money!


Reply to deaconmike - Msg #2829908 - 03/30/2020 12:09

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.
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