RE:Oil prices could crush demand soon, forcing Saudi Arabia to I would disagree with that article and describe it as mostly market manipulation type reporting. I'm currious if Rapidian Energy profited in any way today as the market corrected more than $2 today alone with little to no reason beside stories such as this.
The Saudis are watching this, and the pullback but will be careful before increasing production and understand oil could easily reverse back to $80 oil quickly. We may go into a recession but oil will not be the primary cause, in fact oil demand is somewhat inelastic unless it reaches hyper price points.Also if there is a global recession then doesn't that warrent lower production to match lower demand?