Big Banc Split Corp T.BNK

Saudi Arabia wants to drive oil down to $20 next year

[nexthink]

to kill US oil shale producers.
This is what some oil analysts says.
It's going to be ugly

[Gamaya1]

Well 70% of US oil shale producers are still profitable at $30.  So Saudi Arabia will have to keep oil at $20 for a very longtime to kill US oil shale producers. 2016. It will be fighting war to keep market share.

[himmler]

That %70..x $30 figure sounds like something that Bloomberg liked to trumpet..Its wrong..because in the next breath they say that Canadian oilsands arent profitable with oil at $60 LOL. That Saudi theory is old hat to any of us as well.They have their own agendas,and the American Media puppets can only stumble over themselves to highlight the next days news with complete BS..just like the last

[braincloud]

You got that right Herr Himmler. Not one, and even the Saudis are probably scratching their balls wondering what the heck happened. I;m sure not even they bargained for this. Now that it's here the financial interests are driving the bus. So a strong fundamental shift HAS to happen. Geopolitical turmoil, US production shows a definitive shift downward or there is a cut by OPEC or a material

[braincloud]

I will come down to financing. I expect that what we haven't seen so far is some high profile defaults. Many balance sheets are stretched out and if they've pledged property or production to collateralize debt I expect that bond holders will be getting pretty nervous out there. What do you think oil properties are worth these days? The economics of producing at these levels becomes pretty